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SPENDING IS UP!!!! ECONOMIC RECOVERY BITCHEZ!!!!
my car ate at my savings,my lights and heat ate even more..don't ask about food.
actually, i don't think its in anyone's grand plan that the peasantry be allowed to accumulate savings now. it is far easier to control the population if they are carrying staggering debt......
thing is, we really have to watch out for is when the peasants start repudiating the debt. then there will be real trouble.....and i suspect we could see a good deal of this when QE3 and 4 are announced in an effort to keep the banks solvent.
Paid off my car and electric bills (lights, heat, etc) consumed almost all of the monthly savings. Even if I had much money to spare, it'd be stupid to put it in a bank account earning maybe 1/10 of a percent while I have ANY debt accruing interest at 40-200 times that rate.
People are having to use any savings they have to pay the higher costs of food and fuel!
So spending goes up.. because the cost of the same amount of stuff went up and savings went down to pay for it
Spending goes up, because the price of food and energy goes up, but the inflation rate does not. That is the magic of Ben Bernanke.
Wonder what the personal debt levels did? Short American attention span kick in and gone back to debt/spending?
This may help answer your question.
Likely.., Boobusamericanus in fine form...
Who in their right mind saves FRNs? LMAO. They might ask who is saving:
I wouldn't say "saving", but I have a bit of cash stashed away in Pound Sterling, Euros, Dollars, and Danish Kroner, just in case the banks start to "take extra holidays". It really goes along with keeping a months worth of food (which is rotated) just to be on the safe side.
Just a month's worth of food? I must be insecure.
My baseline my whole life has always been about 2 months of canned goods
I probably have enough for a year now. Plus, I've been fattening up my neighbors.
Lol...FRN = Food Riot Notes.
Goldman Sachs says:
"What, me worry?"
Goldman Sachs Triples Blankfein's Compensation & Hikes All Executive Compensation Even though Profits Fall 36% (and even though Goldman Sachs is a rapacious parasite ONLY alive due to the blood of the taxpayer, collected by its benefactor - the criminals in government and at the 'private' Federal Reserve Bank)
Thanks, you've saved me from having to write my usual rant, i luv private enterprise
Oh look. People making up numbers again.
Deflation is everywhere once you exclude everything...classic!
And look at the spike in MAY 08. Is it a leading indicator of what was to come later that year? or is it a lagging indicator from the true crisis beginning in late 07? Interesting. I thought I'd see that spike in November/Dec 08.
It's tough to say. As I've studied the fraud in the computer industry it's followed the same path as the banking industry. The fraud started off big in 2000 and got so massive by 2007 that they decided to pull the plug on it.
You know those IT folks in india. You don't quite know what is up with them. But this may help ya understand. Some of them are just idiots. But you suspect some of them are assisting the defrauding.
Not sure of the connect with the topic Heph.
But that site you linked to is a bunch of crap. And one company. And stock fraud.
You were talking about the IT folks in india sucking up to the "british empire".
Many Indian IT services are, quite frankly, pitched and sold on little more than outright fraud and deceptive estimates. All of the imaginary savings end up costing more in reality (identity theft for starters) and that hampers the ability to save. Unemployed Americans don't save and neither do businesses overpaying for substandard service.
This statistic is incredibly misused by the media...I love how they state "savings are at a 10 year high" or something to that effect...without stating they were so low for the past 25 years that the new savings are just one small step towards repairing balance sheets.
I've reduced my crack consumption by 3%...I'm well on the way to "recovery".
there is no need to save for that rainy day, its already here
nonononono, Saving rate is down because US lemmings are more confident and don't see the need of saving anymore!!
DON'T ASK WHAT UNCLE SAM CAN SPEND FOR YOU!!!
BUT ASK WHAT YOU CAN SPEND FOR UNCLE SAM!!
Two words: Gas prices.
Once the conversion will be done from gallon to liter, you'll clearly see that the price on the counter will be still the same like 2008 prices.
Hey, we were doing good. Seems people have to eat.
Maybe it's going into items like physical PMs that the Fed doesn't track, or,
Maybe the Fed strategy of debasing people's money out of savings is working.
If an American was spending 4% more than they were earning, yet they begin spending only 2% more than they are earning, does that mean they have doubled their rate of savings?
To futher this thought, if they maintain this new rate of savings, does that mean they'll pay off their debt twice as quickly?
This is.good.news! The masses are spending again!.
those iPads ain't free, you know....
Actually THEY ARE!!
you only need to buy a Hyundai Equus, AND YOU CAN CLAME ONE OF YOUR OWN FOR FREE!!
FREE!! FREE!!! FREE!!!
Pent up demand, nothing to see here.
NIPA Personal Savings rate is at a 60 year low...
Bernanks 0.00% interest rates are working at winkling out any remaining reserve wealth, his inflation has ruined the value of wages as spending power... he has what he wants, the centrally controlled bankrupt economy about to head off a cliff. Genius!
I wouldn't be surprised if the savings rate goes below zero again. Or at least close to zero. Heh.
This is insane. How do people live like this?
I save about 40% of my gross -- and I still feel poor.... : (
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