Chart Of The Day: The Wageless, Savingsless US Consumer

Tyler Durden's picture




 

For a country in which the consumer is responsible for 70% of GDP, one wonders: without savings and without wages where will this "recovery" we hear so much propaganda about and which every investment bank this week went all in on (just like they did in the end of 2010 only to admit their error 4 months later) come from? Because every now and then it helps to step back from the trees and observe the forest. Behold: the forest.

Oh wait, we know where growth will come from: inventories

Source: Bloomberg Brief

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Fri, 11/30/2012 - 08:56 | 3023172 aymankkhlifat
aymankkhlifat's picture

Very great chart ,this will help $EURUSD to break important daily trend next http://stks.co/oFa2  

Fri, 11/30/2012 - 08:58 | 3023174 Zer0head
Zer0head's picture

OT

Jeh Johnson Legal Counsel for the Pentagon and Obama acolyte is given a softball interview on BBC as he expounds why Drones are good. 

This is worth watching

http://news.bbc.co.uk/2/hi/programmes/hardtalk/9774115.stm

Fri, 11/30/2012 - 09:29 | 3023242 MillionDollarBonus_
MillionDollarBonus_'s picture

It's becoming clearer and clearer that trickle down economics has failed. All the evidence suggests that we need more sensible regulations, increased welfare spending and a more progressive tax system that punishes excess and rewards frugality. But until this happens, I'm afraid the economy will continue to suffer. Don't say I didn't warn you.

Fri, 11/30/2012 - 09:30 | 3023250 pemdas
pemdas's picture

Yes, but then million dollar bonuses would be out the window.

Fri, 11/30/2012 - 09:34 | 3023268 LawsofPhysics
LawsofPhysics's picture

Bah ha ha ha!!!  I remain long black markets until we start seeing some real consequences for bad behavior at all levels of society.

Hang John Corzine in public and watch the "markets" rally.

Fri, 11/30/2012 - 09:40 | 3023286 Dalago
Fri, 11/30/2012 - 09:47 | 3023311 Dalago
Dalago's picture

I ran into Brian Moynihan yesterday. I asked, "Is that a MBS in your pocket or are you just happy to see me?"  - Deep Thought's by Ben Bernanke

Fri, 11/30/2012 - 09:50 | 3023319 Enslavethechild...
EnslavethechildrenforBen's picture

Sheeple Zombies too stupid to have a quick and dirty revolution and get it over already

Fri, 11/30/2012 - 10:16 | 3023343 El Viejo
El Viejo's picture

If they are too lazy to work then they most certainly are too lazy to revolt or suffer other hardships.  The real injustice is being perpetrated on the savers. Those that acted responsibly. However there is an article in this weeks Science News Mag about the driving forces behind going into debt and it is not all irresponsibility:

"Too little money, too much borrowing", Bruce Bower

http://www.sciencenews.org/view/generic/id/346200/title/Too_little_money%2C_too_much_borrowing

You may need a subscription to see the article, but basically it says that people living on the edge are more prone to borrowing.

Fri, 11/30/2012 - 10:35 | 3023445 fuu
fuu's picture

Televised? The revolution won't even be organized.

Fri, 11/30/2012 - 11:21 | 3023612 Overfed
Overfed's picture

There are plenty of consequences for the little people. Judging by the prison population, I would say there is an excess.

Fri, 11/30/2012 - 10:03 | 3023345 GraveyardSpiral
GraveyardSpiral's picture

@Pemdas:  I love the witty double-entendre'

Fri, 11/30/2012 - 09:30 | 3023255 EscapeKey
EscapeKey's picture

French government spending is somewhere around 57% of GDP. They're closer to the ideals of socialism, than capitalism.

But don't tell me - their troubles are entirely the fault of capitalism as well, right?

Fri, 11/30/2012 - 10:01 | 3023338 ATM
ATM's picture

How much do the communists pay you for each post? I might put my wife on it too.

Fri, 11/30/2012 - 10:23 | 3023404 Lebensphilosoph
Lebensphilosoph's picture

Right, we need a big central government to regulate that rather than allowing the little children to act as they as they see fit and reap the rewards  of what they sow.

Fri, 11/30/2012 - 11:39 | 3023678 aerojet
aerojet's picture

MillionDollarBonus is just trolling.

Fri, 11/30/2012 - 10:24 | 3023406 duo
duo's picture

MDB, don't forget 80% marginal tax rates like we had in that horrible era when Ike was president.

Fri, 11/30/2012 - 12:16 | 3023804 Woodyg
Woodyg's picture

Yea that terrible time of no federal debt, high wages, good jobs with benefits plentiful - 93% tax on income over 3 millon!
I'm all for it - we tried trickle down for 30 years - why not try High Taxes on those that have Captured government into their own little bailout, corporate welfare slush fund -
The more the ultra-wealthy have the less everyone else has - they got that Jack by Gaming and capturing the system NOT by being smarter or having a 'better work ethic' that eveyone else.
Jackals and vampires are what the oligarchs are.
We had the right answer with the way Mussilini was treated - we've forgotten the lessons of the Past in the way to deal withthe Fascists ruling over our pretend democracy.

Fri, 11/30/2012 - 12:39 | 3023847 El Viejo
Fri, 11/30/2012 - 10:30 | 3023425 mr1963
mr1963's picture

You forgot giving the power to raise the debt ceiling limits to the Obama Czars as a key to prosperity...

Fri, 11/30/2012 - 11:39 | 3023675 aerojet
aerojet's picture

There's actually a "drone caucus" in DC lobbying to get the laws changed so that defense contractors can sell drones to police agencies and such.  If they succeed, there will be drones handing out speeding tickets and shit like that.  It's crazy-town.  It's like the stoplight camera bonanza times 1000.

Fri, 11/30/2012 - 08:57 | 3023173 GetZeeGold
GetZeeGold's picture

 

 

Don't need no wages when you gots the EBT bitchez! Don't need no jobs either!

Fri, 11/30/2012 - 09:02 | 3023179 insanelysane
insanelysane's picture

And you can vote to take "rich" peoples' money!

Fri, 11/30/2012 - 09:09 | 3023192 GetZeeGold
GetZeeGold's picture

 

 

I loves me some rich peoples money.

Fri, 11/30/2012 - 10:12 | 3023373 hapless
hapless's picture

T'aint there mony anyway.

Fri, 11/30/2012 - 12:40 | 3023935 Zap Powerz
Zap Powerz's picture

T'aint they mony noways.

cracker.

Fri, 11/30/2012 - 09:36 | 3023274 tango
tango's picture

At the store last night the woman in front said, "Charge" when asked what type of card. She whipped out her EBT card. I asked what her interest rate was. LOL and she said none, obviously befuddled. I couldn't resist and congratulated her on being so financially savvy. Was she ashamed? Absolutely not - said she didn't have to pay because she was on...disability. She almost raced out of the store in her new jogging outfit leaving us idiots speechless. This is a mini example of the demise of this once great nation.

Fri, 11/30/2012 - 10:33 | 3023439 SanOvaBeach
SanOvaBeach's picture

Is she married to a fucking TBTF banker that is counting his bailout money.  Tango, your a stupid redneck with shit for brains.

Fri, 11/30/2012 - 14:32 | 3024316 El Diablo Rojo
El Diablo Rojo's picture

<quote> Tango, "your" a stupid redneck with shit for brains. <quote>.   "You're" a fucktard that can't conjugate the verb to be. 

Sat, 12/01/2012 - 07:11 | 3026145 SanOvaBeach
SanOvaBeach's picture

Is that the best you can do shit head?  U have been drinking to much of your own after shave.  Take a stress pill and lay down.

Fri, 11/30/2012 - 10:37 | 3023453 yogibear
yogibear's picture

Illegals and new immigrants know how to collect freebies from the government. 

Fri, 11/30/2012 - 10:40 | 3023465 Vashta Nerada
Vashta Nerada's picture

Anyone know the effect on the deficit if welfare and food stamps were restricted to US citizens only?  I'm guessing a healthy chunk would disappear.

Fri, 11/30/2012 - 11:16 | 3023597 SanOvaBeach
SanOvaBeach's picture

R U a birther, too?

Fri, 11/30/2012 - 12:20 | 3023819 vato poco
vato poco's picture

Was gonna reply, "R U a fucking idiot?", but....it's obvious you are.

Fri, 11/30/2012 - 11:11 | 3023577 SanOvaBeach
SanOvaBeach's picture

Read Eric Hoffer, you might change your mind.  But on second thought, do you know how to read, you racist, redneck, fuck.

Fri, 11/30/2012 - 12:45 | 3023950 vato poco
vato poco's picture

Was gonna reply, "R U a fucking iidot?" - but, again, you just proved you are. Toodle on back to KOS, you statist jock-sniffing little bitch.

Fri, 11/30/2012 - 12:37 | 3023922 CoolBeans
CoolBeans's picture

Yesterday I was in line w/three people ahead of me.  I was the only one with cash -- rest?  EBT, of course.  I sometimes feel like one of the few people in town with funds and we're a struggling middle class family.  

It behooves me that they seem to dress better than I, drive better than I (we have to old cars but no car payments) and seem so much more able-bodied than I.  While I'm getting stress lines in my face -- these people also seem happier/relaxed.  I know it won't last long, however -- when that card reads $0 and isn't being refilled, things will get extremely ugly.

Fri, 11/30/2012 - 09:04 | 3023183 azzhatter
azzhatter's picture

I gots me an obamaphone. Keep obama in president

Fri, 11/30/2012 - 09:40 | 3023285 tango
tango's picture

I asked my son if he should get an Obama phone. He's moved in with friends and is not working because all the jobs are beneath him. He said he didn't want a free Obama phone since the were small and only had limited minutes. Even beggars are now being choosy.

Fri, 11/30/2012 - 09:58 | 3023331 BKbroiler
BKbroiler's picture

that might be more your fault than Obamas...

Fri, 11/30/2012 - 10:09 | 3023365 poor fella
poor fella's picture

ouch  X\

Fri, 11/30/2012 - 10:35 | 3023449 SanOvaBeach
SanOvaBeach's picture

Romney is a loser and so are you.  Get over it moron!  Simple minds prefer simple explanations....

Fri, 11/30/2012 - 10:40 | 3023461 yogibear
yogibear's picture

Many get multiple phones so they can use the next one with minutes.

Fri, 11/30/2012 - 10:54 | 3023529 SanOvaBeach
SanOvaBeach's picture

tango,

Look in the mirror, jerk-off.  I can tell your an idiot that thought your home equity was gonna keep growing!  Just like the bearnacke printing $.  Go stick your head in the toilet, fuck-head.  That is where it belongs.

Fri, 11/30/2012 - 14:35 | 3024330 El Diablo Rojo
El Diablo Rojo's picture

Speaking of idiots, once again you have failed to master the most basic of all verbs.  I can tell you're an idiot.

Sat, 12/01/2012 - 00:29 | 3025907 RockyRacoon
RockyRacoon's picture

Actually, that has nothing to do with conjugation of verbs.  It's just a simple construction of a contraction.  Even easier than conjugation and still not mastered by many.

Sat, 12/01/2012 - 07:25 | 3026152 SanOvaBeach
SanOvaBeach's picture

Since we have so many self-appointed English teachers.  How about this one! "We skipped to the store, John and me."  "We skipped to the store, John and I."  Which is correct English?  Since you are (ha, ha, fuck u) el paccoo fuck-head, take a shot asshole.

Thu, 12/06/2012 - 02:03 | 3038384 RockyRacoon
RockyRacoon's picture

"I" is nominative case, whereas, "me" is objective case.   "John and I skipped to the store," gives you the answer you seek.

Sat, 12/01/2012 - 07:19 | 3026149 SanOvaBeach
SanOvaBeach's picture

Once again fuck head, is that the best you can do, jack-off??  When all else fails, appoint youself an Engliush teacher.  Maybe you can hvae fuuunnn wath phis.....Phuk whoo..............

Fri, 11/30/2012 - 09:06 | 3023184 realtick
realtick's picture

It's been all downhill for practically everything since the early 80's when automation and outsourcing started to eliminate our manufacturing base:

http://research.stlouisfed.org/fred2/graph/?g=dhK

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