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Retail Sales Confirm "You Can't Spend What You Don't Have"

Tyler Durden's picture





 

Despite all the rancor about seasonally-adjusted ad hoc beats of holiday week retail sales (amid burgeoning discounts), the trend (post the Hurricane Sandy-driven surge) in GAFO (General Merchandise, Apparel and Accessories, Furniture and Other Sales) retail sales is most explicitly lower. As Bloomberg Brief notes, consumer incomes are in a fragile state and between the ATRA deal and a 'stable' at best unemployment picture, it seems that the YoY change in retail sales is indicating per capita disposable income is set to decline further. As Rich Yamarone concludes: it appears "You can't spend what you don't have." It seems 'tax-the-rich' is also misfiring as those making over $90k per year report recent spending at its lowest for this time of year since 2008.

 

GAFO Retail Sales appear to be indicating a turn to come in disposable personal income...

 

and sure enough, via Gallup, Upper-income Americans' (defined as those making at least $90,000 per year) self-reported daily spending was lower this November -- an average of $113 -- than in any November dating back to 2008. Upper-income spending has been trending downward since September, although the decline has not been large enough to drag down the overall spending figures.

 

Although November marks the beginning of the holiday season -- generally a time for spending and splurging -- Americans did not spend any more than usual this November, and upper-income Americans appear to be spending less than usual.

 

Source: Bloomberg Briefs and Gallup

 


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Thu, 01/03/2013 - 19:38 | Link to Comment Cdad
Cdad's picture

What?  But I have such big material plans!

Thu, 01/03/2013 - 19:45 | Link to Comment 12ToothAssassin
12ToothAssassin's picture

QE is the answer

Thu, 01/03/2013 - 19:47 | Link to Comment Boris Alatovkrap
Boris Alatovkrap's picture

QE is problem, no!?

Thu, 01/03/2013 - 20:12 | Link to Comment IvyMike
IvyMike's picture

Central planning of forcible restraint is true capitalism.

Ayn Rand told me so:

"... a weird absurdity called 'competing governments' ... Remember that forcible restraint of men is the only service a government has to offer. Ask yourself what a competition in forcible restraint would have to mean."

~Ayn Rand
aynrandlexicon.com/lexicon/anarchism.html

Thu, 01/03/2013 - 20:32 | Link to Comment akak
akak's picture

IvyMike, in every one of your posts I feel like I am reading the deranged scribblings of the love child of LetThemEatRand and AnAnonymous.

Thu, 01/03/2013 - 21:07 | Link to Comment IvyMike
IvyMike's picture

I'm not sure of Alisa Zinov'yevna Rosenbaum's parentage, but I think you're getting close.

Thu, 01/03/2013 - 21:12 | Link to Comment akak
akak's picture

You mean I'm getting "very crusty, very much something", right?

Alas, alas, three times alas. 

Just have to bear with it.

Thu, 01/03/2013 - 22:42 | Link to Comment MrTouchdown
MrTouchdown's picture

You got "Central planning of forcible restraint is true capitalism" out of that Rand quote? Talk about confirmation bias...

Thu, 01/03/2013 - 19:45 | Link to Comment Boris Alatovkrap
Boris Alatovkrap's picture

Boris is suggest to change professional to banking, can gamble with others' money. Maybe is politician other possibility, no?

Thu, 01/03/2013 - 19:49 | Link to Comment Salon
Salon's picture

Million dollar bonus and gunslinger, you are a man of many talents.

I also love that goody hispanic lady you do but I forgot her name

Thu, 01/03/2013 - 19:57 | Link to Comment Boris Alatovkrap
Boris Alatovkrap's picture

Boris is never do hispanic lady. Boris is faithful marriage.

Thu, 01/03/2013 - 20:11 | Link to Comment IvyMike
IvyMike's picture

I want to have a car that attract a woman with shave down below. ~Borat

Thu, 01/03/2013 - 20:24 | Link to Comment foodstampbarry
foodstampbarry's picture

High-Five!

Thu, 01/03/2013 - 20:39 | Link to Comment Boris Alatovkrap
Boris Alatovkrap's picture

Boris is have tractor, not so attract to women, but can tow heavy object.

Thu, 01/03/2013 - 21:10 | Link to Comment IvyMike
IvyMike's picture

Then drive dual-use Green, Bodacious Babes and Big Round Balers!

She Thinks My Tractor's Sexy

Thu, 01/03/2013 - 21:19 | Link to Comment akak
akak's picture

Tractor very handy during rasputina messy time.

If can tow heavy object, can probably tow Russian woman ("princess to plowhorse") to beetfield for make plowing.

Thu, 01/03/2013 - 19:48 | Link to Comment HelluvaEngineer
HelluvaEngineer's picture

I can tell you anecdotally that pretty much everyone in my direct family makes six figures.  We had a dramatically scaled back Christmas.  I have informed my family that I intend to not buy anything in 2013 unless I truly need it.  My retail store bills have gone from $120/trip to $40 or so.  Everyone on ZH should do the same, IMO.

Thu, 01/03/2013 - 19:53 | Link to Comment drink or die
drink or die's picture

And you are doing what with your leftover cash then?  Holding it?  I'd rather buy physical assets (that don't depreciate) and hold that then be sitting on a huge mountain of cash.  I'm in a similar income bracket and that has been my strategy for the past 4 years.

Thu, 01/03/2013 - 20:03 | Link to Comment bnbdnb
bnbdnb's picture

I've been paying down debt.

Thu, 01/03/2013 - 20:17 | Link to Comment HD
HD's picture

WTF? You PAY your debt?!

What part of the "new normal" don't you understand? You don't bother to honor your financial obligations unless you're using someone else's money - printed or otherwise.

If you have questions, anyone at CNBC can help: 201-585-2622

 

Thu, 01/03/2013 - 20:45 | Link to Comment Shizzmoney
Shizzmoney's picture

Everyone I know has used their money to either A) travel/move or B) pay down debt (like me, I'm out by April).

There's value in traveling, because you are at least doing fun things in places you haven't seen before.  Moving costs like rent, gas, and services have risen, and people move around much more now not only thanks to globalization, but also due to lack of opportunity for jobs, so people must save up for that big move (like many of my friends who had to after the US Govt killed online poker).  This is a slight part of the story.

The paying down debt story is much more prevelant. The only way to kick off a loan shark off once he's bitten your fin, is to cut off the fin.  And the best way to not get bitten by a loan shark........is to avoid him. 

I think our feelings' toward Congress reveal we are headed to a dark place as they continue to protect our Corporate Overloads at NO cost, so inheritently......I think people know the only way out of that, and to hedge against an economic collapse (besides PMs) is to AGGRESSIVELY pay down debt and not to re-debt:

Consumers paying down debt despite obstacles: ABA

http://www.reuters.com/article/2013/01/03/us-usa-loans-aba-idUSBRE90206T...

 

Delinquencies on bank card payments fell to an 18-year low during the quarter, and a composite ratio covering late payments in eight loan categories also fell, the group said.

 

But delinquencies rose in five of those eight categories, the ABA said.

 

And consumers could see lower income because Congress did not extend a temporary reduction in the Social Security payroll tax, which could hurt consumers' ability to repay loans in the future, James Chessen, ABA's chief economist, said in a statement.

 

"The conservative approach consumers have taken to credit over the last several years has allowed them to better manage their debt and better position themselves for the future," Chessen said.

 

"Changes in payroll withholding will decrease disposable income, reducing retail sales and making it more difficult for some people to meet their financial obligations," he said.

 

He said low consumer confidence in the economy also could indicate more delinquencies are on the way. A recent measure of U.S. consumer attitudes showed confidence at a four-month low.

This is NOT good for a consumer based economy.

 

A worker NOT in debt is more dangerous to an employer than a worker in a union (and I'm for unions, generally).

The HARD WORKING American consumer, who actually likes money in their pocket, is SLOWLY starting to realize this.

Fri, 01/04/2013 - 00:07 | Link to Comment donkshover
donkshover's picture

Why no online poker? If you dont use your  IP address  no one will know  and if they want to prosecute you   there are so many lawyers pro bono chomping at the bit for such a case.

 Poker is my retirement plan you muthus!

Thu, 01/03/2013 - 22:13 | Link to Comment lakecity55
lakecity55's picture

1 buying nothing but essentials.

2 paying off last debt.

3 buying PMs on the dip(s).

4 will buy barter items and extra tools after debt is paid.

Thu, 01/03/2013 - 20:48 | Link to Comment Zap Powerz
Zap Powerz's picture

Helluva...Im already there brother.  I need to save my money so I can pay more of my fair share.

Thu, 01/03/2013 - 23:42 | Link to Comment Roy T
Roy T's picture

I just got my first check with the new Social Security rates included today.  I will be spending 2% less myself in 2013.

 

Fri, 01/04/2013 - 01:05 | Link to Comment sharky2003
sharky2003's picture

The hubs and I make decent money between us, though still 25% bracket. Our spending in the last year has absolutely plummeted. We used to eat out all the time but now if we eat out, it's only because we have a coupon. The last clothing purchase was undershirts for work attire. Before that it was a couple shirts 75% off on the clearance rack. My last shoe purchase was a year and a half ago. We go to Redbox instead of the newest movies at the theater. Our cars are 7 and 10 years old. We are saving the extra money, using some of it to diversify into PM's, because we know things aren't as good as they look. We hope the money we have saved will be able to get us through what's coming ahead. 

Fri, 01/04/2013 - 09:22 | Link to Comment TuesdayBen
TuesdayBen's picture

I eat out, but I don't drink out

Thu, 01/03/2013 - 20:04 | Link to Comment chubbar
chubbar's picture

OT, but this report from Naomi Wolf is just fucking crazy (and infuriating) if true. Who the fuck is our gov't working for, or do I really need to ask?

"Only one month into the Occupy Wall Street demonstrations last year, plans were formulated to identify key figures in the movement and execute them with a coordinated assault using sniper rifles, new documents reveal.

The revelation — discussed in a heavily redacted FBI memo unearthed late last month through a Freedom of Information Act request — reveals that the Federal Bureau of Investigation was aware of plans for a violent assault on the peaceful protest movement but stayed silent on rumors of an assassination attempt only until now.

Information on the alleged plot to kill off protesters appears on page 61 of the trove of documents obtained recently by a FOIA request filed by the Partnership For Civil Justice Fund. On the page in question, marked “SECRET,” the FBI acknowledges:

An identified [redacted] of October planned to engage in sniper attacks against protesters in Houston, Texas, if deemed necessary. An identified [redacted] had received intelligence that indicated the protesters in New York and Seattle planned similar protests in Houston, Dallas, San Antonio and Austin, Texas. [Redacted] planned to gather intelligence against the leaders of the protest groups and obtain photographs then formulate a plan to kill the leadership via suppressed sniper rifles.

In the rest of the material obtained by the PFCJF, the FBI declines to mention any follow-up attempts to investigate the rumored assassination plot. Page 61, where the plot is discussed, was redacted heavily before it was handed over to the PFCJF.

“This correlation between the FBI, the Department of Homeland security and corporations in the New York stock exchange really showed who they are serving. It’s not the government in this case, it’s these corporations and a financial sector, and it’s certainly not the people,” independent journalist and activist Anna Lekas Miller told RT.

“The FBI is really just targeting ordinary people going about their daily lives as potential terrorists, and now people, who are participating in peaceful protests, are also characterized as domestic terrorists. So, I think the FBI is really picking and choosing who it categorizes as the type of civilians it wants to protect,” added Miller.

As RT reported when the documents were first published just before Christmas, other material released through the FOIA request showed the FBI and other law enforcement agencies labeling Occupy activists as criminal and domestic terrorists. This was the case from the beginning of their anti-capitalism and anti-corporate greed protests that started in September 2011.

.

“These documents show that the FBI and the Department of Homeland Security are treating protests against the corporate and banking structure of America as potential criminal and terrorist activity,” PFCJF Executive Director Mara Verheyden-Hilliard says. “These documents also show these federal agencies functioning as a de facto intelligence arm of Wall Street and Corporate America.”

But while police agencies were working to expose protesters for alleged crimes against the country, the demonstrators themselves were being faced with very real death threats.

“The documents, released after long delay in the week between Christmas and New Years, show a nationwide meta-plot unfolding in city after city in an Orwellian world,” Naomi Wolf writes for The Guardian. Not all that unsurprising, though, is how the very agencies that acted to suppress the protest movement made little announcement of plans to execute the very people involved in the group.

“[T]hreats of the assassination of OWS leaders by sniper fire — by whom? Where? — now remain redacted and undisclosed to those American citizens in danger, contrary to standard FBI practice to inform the person concerned when there is a threat against a political leader,” Wolf writes.

http://rt.com/usa/news/fbi-assassination-ows-sniper-227/

Thu, 01/03/2013 - 20:14 | Link to Comment Go Tribe
Go Tribe's picture

Some think that when the SHTF, the police and military men and women will join forces with the anti-government crowd. However, the police and military are carefully trained, and, despite what they say, will do what they're told.

Thu, 01/03/2013 - 20:30 | Link to Comment akak
akak's picture

Indeed.

I have yet to hear of one single example of a thug, er, law enforcement officer having refused to take part in the grossly illegal and unconstitutional attacks on, and suppression of, the OccupyWallStreet protests --- or of any statist thug, er, statist minion, er, traitor, er, police officer backing down from the now routine suppression of ALL public protest in the USA, which for all practical purposes is now an automatic ticket to jail.

Thu, 01/03/2013 - 20:34 | Link to Comment GubbermintWorker
GubbermintWorker's picture

Until they realize that they're pensions are worth diddly shit and they won't get shit.

Thu, 01/03/2013 - 20:48 | Link to Comment Shizzmoney
Shizzmoney's picture

Exactly.

Rats are fat and happy rodents who flock with the crowd until they run out of food......then they become rabid.

Thu, 01/03/2013 - 21:56 | Link to Comment Things that go bump
Things that go bump's picture

And cannibalistic.

Thu, 01/03/2013 - 23:53 | Link to Comment The Gooch
The Gooch's picture

$96.8,000,000,000.00 in the "Land Of Lincoln" alone. O won't be getting his Il. senator pension... Nor will the Rahmarmy.

http://articles.chicagotribune.com/2012-11-21/business/sns-rt-illinois-p...

"To Serve and Protect".

Thu, 01/03/2013 - 21:13 | Link to Comment Chump
Chump's picture

I think a vast, vast majority of police officers would kill any and all comers when the shit truly hit the fan.  Rural areas would likely be OK, but the cities would quickly devolve into "shoot anything not in uniform."  There are not enough officers in all the alphabet soup agencies combined to quell even a tiny area of the country, however, so in the end the police lose that fight, badly.

And then enters the military.  I have no doubt that a percentage of military forces would obey orders to fire on American citizens.  It's my opinion that it would be a minority.  I couldn't begin to quantify my opinion and it may just be a flight of fancy.  For all I know the implosion could leave armed forces stranded in hostile countries.  Still, I think a distinction should be made between police and military forces.

Side note: one of the few positive aspects of a SHTF scenario is seeing a bunch of fat asshole thugs with badges losing all semblance of authority.

Thu, 01/03/2013 - 22:13 | Link to Comment Tristan Ludlow
Tristan Ludlow's picture

I think you need to reassess.  Unless you are in the military or law enforcement, everything you think is pure conjecture.  I hold out hope that the majority of both will side with the people.  My opinion is not based on a scientic survey, but it is based upon personal knowledge and anecdotal evidence. 

Thu, 01/03/2013 - 22:22 | Link to Comment akak
akak's picture

Unfortunately, I think that it is YOU who needs to reassess, as I think you are grossly wrong.

Where are all the police and military personnel who have refused their already egregiously unconstitutional, rights-violating orders in the last 10 or 20 years?  Can you point to ANY such people?  Where are the cops who refused to crack OWS heads, in violation of every precept of rights and justice, or the members of the military who refused to take part in the grossly unjustified, purely aggressive invasion of Iraq in 2003?  There are none.

Face it: the overwhelming majority, if not ALL, of those currently in law enforcement or the military are unprincipled, spineless sheep who WILL follow orders, no matter how unjust.

Thu, 01/03/2013 - 23:50 | Link to Comment lincolnsteffens
lincolnsteffens's picture

Fed will have to print lots more green stuff to keep paying military and enforcement agencies when tax revs. fall off the cliff. The gov. could try to seize assets of "terrorists and malcontents"  but

if it is not cash who will they sell the stuff to and at what price?

Fri, 01/04/2013 - 00:18 | Link to Comment Freddie
Freddie's picture

Yup. This is how it will probably work.  The old Ben Bernank bucks will be worthless and the cops, other thugs and military will be paid in the new money.  Unless you have PM's - you will have no money. Oir muslim will bring in mercs and the euro banksters will have a plan.

Still - 19 million gun were sold (or 19 million NIC checks) in 2012.   Most of those people did not buy a gun because they really were excited about buying a gun.  They know things are going the wr-O-ng way O.  Since 2008 or 4 years - how many new guns were sold?  50 to 60 million?  50 million new guns in a country that has more guns than probably any country on earth.

 

 

Thu, 01/03/2013 - 20:39 | Link to Comment negative rates
negative rates's picture

Tail chaser huh? Ever feel like your day is not done?? If you're drivin a truck,.....It's not!

Thu, 01/03/2013 - 23:37 | Link to Comment DaveA
DaveA's picture

If the FBI let fly with real bullets, they'd only need two or three kills before the rest go back to Occupying their mom's basement. Killing a mere four protesters at Kent State stopped the anti-Vietnam-war movement dead in its tracks.

The key to surviving societal collapse is not calling attention to yourself!! Rioting in the street, destroying property, squatting in public parks, or being in the general vicinity of people doing these things is a great way to get yourself killed. Stay home, tend your garden, shoot some squirrels, and the authorities will probably leave you alone.

Thu, 01/03/2013 - 23:57 | Link to Comment lincolnsteffens
lincolnsteffens's picture

"...stopped the anti-Viet Nam War movement dead..."

beg to differ. It outraged people on the sidelines  increasing

animosity toward the gov. and its war policy. It didn't stop me and

my friends.

Fri, 01/04/2013 - 16:57 | Link to Comment roadhazard
roadhazard's picture

People who rewrite history crack me up. You must be a rabid right winger with a hood.

You would fined me Very involved in OWS if they started getting killed. Right now I'm just an armchair cheerleader for OWS. Don't piss me off too much.

Thu, 01/03/2013 - 23:21 | Link to Comment ball-and-chain
ball-and-chain's picture

Most of us are broke.

We had a toned-down Christmas.

But it was nice.

http://www.angrysinner.blogspot.kr/2013/01/yesterday-dragon-lady-served-beef-and.html

Thu, 01/03/2013 - 19:39 | Link to Comment Racer
Racer's picture

And if you save anything you get less than nothing for it (stolen by inflation and no interest if you are stupid enough to give it to a bankster) so you have even less than you saved

Thu, 01/03/2013 - 19:39 | Link to Comment MiguelitoRaton
MiguelitoRaton's picture

Need more cheap credit bitchez!

Thu, 01/03/2013 - 19:44 | Link to Comment tooriskytoinvest
tooriskytoinvest's picture

We Are Heading Toward A Black Swan Event, Global Monetary Reset & Chaos, And Suddenly, Lots Of Influential People Are Talking About The Trillion Dollar Coin Idea To Save The Economy. The Next Collapse Is Bigger Than Fed & IMF Combined!!

 http://investmentwatchblog.com/we-are-heading-toward-a-black-swan-event-global-monetary-reset-chaos-and-suddenly-lots-of-influential-people-are-talking-about-the-trillion-dollar-coin-idea-to-save-the-economy-the-next-collapse/

Thu, 01/03/2013 - 21:58 | Link to Comment lakecity55
lakecity55's picture

I think both of those stories have the March time frame in them.  Seeing that more and more......

You know, the Statists always get hubristic and overreach.

I'd keep my radar on, guys.

Thu, 01/03/2013 - 19:45 | Link to Comment nmewn
nmewn's picture

They started early, my last check of 2012 was 82 bucks lighter, they whacked me for the ObamaCare increase in health insurance (AGAIN!), more fed taxes, more medicare taxes and back to the old socialist insecurity tax rate.

Forward into the abyss...but at least I'll have company ;-)

Thu, 01/03/2013 - 20:48 | Link to Comment northerngirl
northerngirl's picture

My daughter received her first pay check today.  She called me on her break to vent her dislike at the amount taxes that were taken out of her check.  I told her the fun had only begun.

Thu, 01/03/2013 - 21:06 | Link to Comment Pareto
Pareto's picture

Yeah.  Everbody's a lefty, up until they receive their first paycheck and see the fucking damage from the tax man.  Then, without uttering another word, a righty is born.  "Welcome to the real word jackass!" (SNL digital short).

Thu, 01/03/2013 - 21:16 | Link to Comment nmewn
nmewn's picture

As the old adage goes...any 20 year-old who isn't a liberal doesn't have a heart and any 40 year-old who isn't a conservative doesn't have a brain ;-)

Thu, 01/03/2013 - 22:04 | Link to Comment akak
akak's picture

And any 60 year-old who isn't a libertarian doesn't have a clue.

Thu, 01/03/2013 - 23:56 | Link to Comment The Gooch
The Gooch's picture

Classic!

Fri, 01/04/2013 - 00:36 | Link to Comment Freddie
Freddie's picture

Plenty of old f**ks voted for the islamic - twice.  But they are Baby Boomers and are the coolest and bestest generation there ever was or will ever be forever and ever.  The libtard TV and Hollywood has told us this shit for 45+ years. 

They went to Woodstock and did all the greastest and bestest shit in the world ever.

Thu, 01/03/2013 - 23:23 | Link to Comment Mary Wilbur
Mary Wilbur's picture

"Everybody's a lefty, up until they receive their first paycheck"

That was certainly true in my case. I have to laugh at my daughter; she thinks she's a socialist because she read The Communist Manifesto. What an idiot, but then I was an idiot too when I was a freshman in college.

Thu, 01/03/2013 - 19:48 | Link to Comment Zer0head
Zer0head's picture

just watched for the 1st time in a very long time ABC nightly news with Dianne Sawyer

lead story about Flu - vaccines are safe  -

 

next the SandyHook kids back to school with the side story of the Gabby Gifford person meeting with Mike Bloomberp and how she will meet with the SandyHook parents privately (mark my words she will be standing next to O when he announces new legislation on firearms)

 

very next story Drone Strike in Pakistan taking out a bad guy and how Drones are good

 

(not a fcking damn word from this  member of the Whore media about the 12 other people killed in that same Drone Strike)

http://www.straitstimes.com/breaking-news/asia/story/us-drones-pakistan-...

 

Thu, 01/03/2013 - 19:51 | Link to Comment max2205
max2205's picture

Drones don't kill people, people do.

Thu, 01/03/2013 - 20:02 | Link to Comment drink or die
drink or die's picture

You must be a masochist to watch evening news at any place other than on a treadmill at the health club.   Was the last 5 minutes a "5 minutes of hate" montage on Iran?

Thu, 01/03/2013 - 20:08 | Link to Comment nmewn
nmewn's picture

"next the SandyHook kids back to school"

Bet they didn't say anything about the guys with guns (and badges) running around the school.

How odd that psychos always pick the soft targets instead of the targets with the guys carrying guns.

Thu, 01/03/2013 - 20:29 | Link to Comment Whoa Dammit
Whoa Dammit's picture

I watched network TV for the first time in a long time on New Years Day. One of my traditions is watching the Rose Bowl Parade.(I am female, so I like that kind of stuff). The ABC coverage was practically an infomercial about how big corporations are good for us. Had to change channels in disgust.

Fri, 01/04/2013 - 01:36 | Link to Comment sharky2003
sharky2003's picture

I felt the same way about the Macy's Thanksgiving Day parade. One big 2 hr commercial for all the corporations.

Thu, 01/03/2013 - 21:52 | Link to Comment lakecity55
lakecity55's picture

Each time I watch an MSM 'news' half-hour after a 4-5 month hiatus, it's even more bizarro-world than it was before.

I mean, these guys are good; they can bloviate this utter bullshit with a serious face.

Too bad some truther geek can't invent a stuxnet virus to attack all MSM news shows.

When you black them out for months at a time, their lies are so fuckin' obvious I cannot figure out how anybody believes them.

Fri, 01/04/2013 - 02:48 | Link to Comment upWising
upWising's picture

GRAVITAS. that's the word. Who has more GRAVITAS?  Who can look into the camera and read the Party Line with more convincing facial expressions and intonations?

Is it Diane Slave-driver on ABC?   Is it Brian Willing-hands on NBC?  Is it Scott Penis on CBS? 

Who has more GRAVITAS?  The Nielson Ratings will tell.......

stay tuned.......but first a word from these sponsors.....

Thu, 01/03/2013 - 22:17 | Link to Comment Tristan Ludlow
Tristan Ludlow's picture

Also no mention of the Saudi AF helping and maybe even conducting the "drone" strikes.

Fri, 01/04/2013 - 00:47 | Link to Comment Freddie
Freddie's picture

Why do you watch, pay cable & sat TV fess and support The Matrix?  TV and Hollywood crap is for retards and serfs.  Keep up the good work of supporting your serfdom/viewership.

Fri, 01/04/2013 - 02:30 | Link to Comment Notarocketscientist
Notarocketscientist's picture

And the dumbasses probably still vote - thinking that matters.

Thu, 01/03/2013 - 19:47 | Link to Comment upWising
upWising's picture

"You can't spend what you don't have."

This is the kind of talk that just proves that You Hate Amercia.  True Jesus-Loving Amercians are out in their Local Malls RIGHT NOW showing their support for Amercia by consuming. A great big credit card balance shows Our Leaders that you Believe in Amercia; every time you get your credit limit raised or get anew credit card, the Baby Jesus Smiles.

"If a little is good a LOT IS BETTER!"  THAT is the kind of talk that Made Amercia What It IS Today! 

Now it is up to you Patriots!  Jump off the couch and hop in the SUV and get down to the Mall and BUY!  BUY!!   BUY!!!  Get out the Ipad and get on line and SHOP!  SHOP!!  SHOP!!!

If you don't consume, the Turrurrists win.  REMEMBER!!  they hate us for our Freedom to Consume!   Freedom is NOT FREE, but it can be CHARGED!!

PRAISE BE!!!

Thu, 01/03/2013 - 20:04 | Link to Comment yogibear
yogibear's picture

That is so 80's and 90's when the US credit was expanding. The jobs were shipped overseas and there was salary arbitration with places like India.

The best way to beat the banksters at their own game is not to borrow or spend. Starve the beast!

Thu, 01/03/2013 - 20:07 | Link to Comment Freddie
Freddie's picture

The better word is salary "arbitrage."   Sorry - just trying to be helpful and not a d*ck.

Thu, 01/03/2013 - 20:53 | Link to Comment AGuy
AGuy's picture

"The best way to beat the banksters at their own game is not to borrow or spend. Starve the beast!"

I don't think they really care:

1. Banks get to borrow money for free to the Fed and they buy Gov't debt and pocket the difference.

2. Banks get free money from the gov't using other methods, EBT's, bailouts, etc

3. Not Spending! That's exactly what the bankers want. They perfer you Hold on to the worthless FRNs so they can dump their FRNS to by tangible assets and commodities.

4. They make money shipping jobs overseas and liquidating US companies.

It's a Tails you lose, Heads the Win situation! Unlike you, bankers can get away with fraud, embezzible, and possibly murder, since the gov't won't prosecute.

 

 

Thu, 01/03/2013 - 20:42 | Link to Comment Caviar Emptor
Caviar Emptor's picture

@upW: you nailed it! Shop 'Till Ya Diddy-Drop is the real US National Motto and Anthem! 

It was really all about the 'aspirational yuppie', and you all know exactly who I mean: you! 

America was made great in the '80s, '90s and '00s by The Wannabe, the guy/gal who never had it in the first place, and had to ask the price before paying for it with plastic. 

These were the true American Patriots who made the ultimate sacrifice. We should be proud. We need a National Day of Remembrance for the legions of shoulda-been-yuppies who wore the Italian black like a uniform. 

What a noble people we are!

Thu, 01/03/2013 - 19:47 | Link to Comment Deathrips
Deathrips's picture

This year i was going to send a bag of flaming shit to the Bernankes doorstep....but the bag was too expensive.

 

Fuckers.

 

Silver!!!

Thu, 01/03/2013 - 20:39 | Link to Comment DaveA
DaveA's picture

Make your own bag out of dollar bills.

Thu, 01/03/2013 - 19:48 | Link to Comment Chartist
Chartist's picture

My income is on an upswing so I spent a bit more this year....But, that's after hardly spending anything for nearly 5 years....My income is due to rise quite a bit more in 2013 ($125K), but frankly, it's like Brewster's millions for me.  I've already owned all the things most folks could want and it's just stuff.....I don't want more stuff in my life.....So, I'll be paying down debt swiftly over the next couple years.

Thu, 01/03/2013 - 20:03 | Link to Comment Freddie
Freddie's picture

Dude - if you are in the USA and are not a wanker - some of the stuff you need in your life is guns, mags and ammo.

If you voted for Oba - you need one of those cool mod bulleye/target shirts like Keith Moon of The Who wore.

http://2.bp.blogspot.com/-ai2qLQzUPS0/TkhI0D2J_pI/AAAAAAAAAEY/ZOX8EP3UUe...

Thu, 01/03/2013 - 20:10 | Link to Comment Chartist
Chartist's picture

I've owned guns but sold them when my young son became a little too preoccupied with their presence in the house....I've owned Rolexes, Porsches, BMWs, Jaguars, Benzes, taken strippers to exotic locations after making $10K on a day trade....You know that guy in the Dos Equis commercial?  I was that guy....Folks lived vicariously through me....I was one of the first day traders in the country and the IRS brought me in thinking I was money laundering....Here's the thing, no one believes money doesn't buy happiness until they get real money and realize they're just as miserable as they always were.

Thu, 01/03/2013 - 20:22 | Link to Comment Chartist
Chartist's picture

One other thing, if you want to invest in something that will ensure your survival, get a real education.  I got rich young but kept going to school:  a real university, not a fake online one.  I could not shake the image that trouble could always derail my magic carpet ride...When the inevitable came, I was prepared with two master's degrees...Plus, I did one more thing:  I paid off my mortgage on the house.  I got clobbered, ala Jessy Livermore, in the 2008 meltdown.  After being "retired" for 13 years, I was able to get back into my old profession and earn a living.  Folks who say they can't get a job aren't seriously looking cuz when my back was against the wall, I found one; a damned good one in a field I left 13 years earlier.

Thu, 01/03/2013 - 20:39 | Link to Comment Chump
Chump's picture

Yeah, you can get a job nowadays, but you're going to need 2 to get by.  3 and some moonlighting if you want to support a family.

Not everyone can get rich, retire, and get 2 masters before they go looking for work.  Some people are getting well and truly raped right now.  There's an argument to be made that lots of folks brought their situations on themselves, but not everyone.  I'm at a point where I'd rather address the fraud at the "commoner" level after we've hung a several hundred bankers and politicians from lamp posts.

Thu, 01/03/2013 - 20:50 | Link to Comment Chartist
Chartist's picture

I get it Chump....I'm a rare bird...I developed a solid work ethic, then I got rich.  It was that work ethic that really saved me when the crap hit the fan.  A solid work ethic is the key to surviving. 

Thu, 01/03/2013 - 21:04 | Link to Comment AGuy
AGuy's picture

"I developed a solid work ethic, then I got rich."

Obvious you weren't rich, since you had to go back to to work. You had a borrow lifestyle that has been reset.

"A solid work ethic is the key to surviving. "

Only to a certain point. I see lots of people with a solid work eithic just getting by, either because the bought the housing bubble, lost there savings in one or more of the frequency market crashes, Married poorly, Health problems, troubled childern or trouble parents that need a bailout. Also to get ahead you need to choose the appropriate career path. Few people make solid longer term career choices.

On the flip-side, their are a lot of successful people that got rich from commiting fraud or cronism. Example: the un-honorable former governor Jon Corzine.

 

"It was that work ethic that really saved me when the crap hit the fan."

More likely the people you already knew that made the right connections for you to land a job, because they remembered your work ethic.

 

Thu, 01/03/2013 - 21:25 | Link to Comment Chartist
Chartist's picture

I was raised middle class.  The work ethic was engrained early by a dominant maternal force during childhood.  I graduated college and married like a bunch of others seeking a life.  I was still middle class but, rising solidly as I married well with an educated spouse.  I did get lucky by taking a gamble on a career path that was brand new.  I got rich in my late 20s and became a day trader in 1988.  Back then, my cell phone was as big as a loaf of bread and twice as heavy. 

 

I don't want to see the folks who knew me in college.  I don't want to explain the losses and the resurrection, it's mine to savor.  Therefore, no one helped me pick myself up, I can take solace in that fact.

Fri, 01/04/2013 - 00:04 | Link to Comment smiler03
smiler03's picture

Are you still a day trader? I'd appreciate your answer and opinion whether it's yes or no. 


I'm wondering when it (day trading) went down the pan? Thanks :O)

Thu, 01/03/2013 - 21:28 | Link to Comment Chump
Chump's picture

I totally agree.

Thu, 01/03/2013 - 21:33 | Link to Comment ReactionToClose...
ReactionToClosedMinds's picture

Agree with much of what you say ...except ....."education" ... which is important but has to be put in it's 'place'.

Knowledge is useless unless you know how to employ it and not let it overwhelm your basic instincts & latent rationality.   What do I mean?   

Let me be quick:  knowledge and 'education' are only useful to the process of 'critical thinking'.  There is a ton of noise and bullshit and dopes (yup, even highly educated dopes most of the NYTimes readership I have found ...sorry I had to make the example clear... which sometimes includes me sadly as one of the educated dopes).  You have to distill from all the data and noise and narrative-shaping/propaganda/advertising/hidden persuader stuff, to what is really going on ... and who 'else' really knows what is going on.  60%+ of folks have no clue what I'm even talking about and that includes equally those with lots of 'education'.  See Barry Ridiculotz of financial blog fame.  In fact, my life experience has shown, at least to me, that those with street smarts survive better than those less endowed.   Most people eventually face some true tests in life ... the 'street smart' set generally can take the rolls better than the 'educated' set.  But to understand the whys and wherefores of what is going on, to explain it to yourself and others, you need a broad education especially where critical thinking skills are emphasized.

So what you may be conflating is your own street smarts with education .... just a guess.

This from a JD/MBA (from a leading engineering school-no diploma mill there)/CPA .. which by today's tuition levels I would never encourage anyone to replicate.

And 'the most interesting man in the world' is obviously either a clear seeing dude who manipulates and charms others with his buffoonery ..... or just a clever ad character ....

Thu, 01/03/2013 - 21:49 | Link to Comment Chartist
Chartist's picture

I will freely admit I was the most naive sob on the planet in college.  I was raised in a strong catholic house, in a county that was 99.95% white by a parent who said the kids at Kent State deserved what they got in the early 1970s.  Not even Rush Limbaugh stood to the right of my family back then.  I don't know for sure, maybe it was something innate, but I developed a survival instinct based on working.  When your back is against the wall, after a great fall, and all you have to offer is your labor, it better be backed with fortitude.

Thu, 01/03/2013 - 21:58 | Link to Comment tickhound
tickhound's picture

Cuba imports cigars from him.  Mosquitos refuse to bite him, out of respect.

Fri, 01/04/2013 - 00:10 | Link to Comment ReactionToClose...
ReactionToClosedMinds's picture

even Buddhist monks laugh at his jokes ... and the museum art allows only him to 'touch' them

Fri, 01/04/2013 - 00:53 | Link to Comment Freddie
Freddie's picture

Well - all the best to you and your family in 2013.  The only strippers I am thinking about is stripper clips.  ;-)

http://www.youtube.com/watch?v=CugXijCx2sc

BTW - what is your favorite indicator?

Thu, 01/03/2013 - 20:22 | Link to Comment NoDebt
NoDebt's picture

Done and done. 

Just picked up the carbine I ordered before Christmas!  I wanted the 45 cal version, not the more common 9mm, so I had to wait a bit.  Putting an AR in my hands is putting a 600 Yd. rifle in the hands of a 150 Yd. shooter!  The carbine is much more my speed.  Red dot sight on order as well as a few high cap clips (before all this stuff is outlawed).

I'm taking it to the range to break it in this weekend, scope it in and generally have some fun blowing through a few rounds.  I have never considered myself a "gun guy", although I've always owned one or two (and practice with them semi-regularly), but when I shot my brother's identical carbine a few months back I was grinning ear-to-ear.  I knew I had to have one for my own modest collection.

If you've never even shot a gun, you really owe it to yourself to give it a try at least once.  If it's still not to your liking, then fine.  But I haven't taken anyone shooting their first time who walked away saying "I hated that.  Never again."  Many bought their own gun within 6 months after that first experience.

Smoke 'em if you got 'em.  Cause you might not always have 'em.

 

Thu, 01/03/2013 - 21:16 | Link to Comment Edelweiss
Edelweiss's picture

I've taken quite a few people out for their first range visit, and my experiences are similar.  I've never had anyone tell me they didn't like it.  Also, it's a chance to gain a 2nd amendment supporter.  When someone empties an AR15 (for example) they understand that you don't have to be a criminal, psycho, etc. to want one.  At that point, you take a harder look at MSM's portrayal of guns, and gun owners.  I watched an MSNBC story on gun control before the 94' ban that made my blood boil.  They had a clip of a tank as the narrator insinuated that AP rounds available to the public were capable of penetrating it's armor.  Utter bullshit.  If you're not exposed to the reality though, you might just believe it.  When does the fight to protect the 2nd amendment end?  It doesn't. 

Thu, 01/03/2013 - 22:33 | Link to Comment NoDebt
NoDebt's picture

Yeah, unfortunately that's true.  First-hand experience with a gun levels out the media insanity really quick in most cases.  The media is all about making you AFRAID of guns.  Anyone who has put one in their own hands and fired off a few rounds quickly understands the proper state of mind is RESPECT for them, not fear.

People don't fear their SUV, yet most people could kill and maim more people by slamming their minivan into a crowd of people than they could ever do with legally-available firearms.  Nobody fears commercial air liners, yet they were the weapon of choice for the 9/11 terrorists.  Anyone could expand the list.

Do a friend a favor- take them out to the range some day.  He'll probably thank you.  And the country might, too.  Works for Switzerland.

 

Fri, 01/04/2013 - 00:09 | Link to Comment smiler03
smiler03's picture

 "Nobody fears commercial air liners"

 

If I found out I was about to fly in an MD80/MD90, I would run for the nearest bomb shelter. FEAR!!

Fri, 01/04/2013 - 02:28 | Link to Comment Notarocketscientist
Notarocketscientist's picture

Nah - all i see you gun whackos doing is KILLING KIDS

 

Trailer trash losers who whinge all day on ZH... pathetic

Thu, 01/03/2013 - 21:39 | Link to Comment RobD
RobD's picture

Just a little heads up, there is no such thing as a "high capacity clip". A clip is a metal device used to load a semi-auto rifle or pistol and has no spring and usually hold 10 rounds or less.  In some rifles the clip stays in the weapon(M1 Garand) and in others it just helps to quickly load the fixed magazine and is then removed(SKS).  What you are referring to is a magazine which replaced the clips in more modern semi and full auto rifles, carbines and hand guns. Common mistake by nubees but it really torques some people off so just be warned.

Thu, 01/03/2013 - 22:20 | Link to Comment NoDebt
NoDebt's picture

Rob- you are correct, of course.  I will be more precise with my terminology about that in the future. 

Having had the privilege of spending some time with an original WWII-era M1 (still a fucking awesome gun) I should know better.

Fri, 01/04/2013 - 02:27 | Link to Comment Notarocketscientist
Notarocketscientist's picture

Go gettim ZEKE - you got your guns and ammo - stop practising on the school kids and do society some good.

DON"T BE A COWARD!

Thu, 01/03/2013 - 22:53 | Link to Comment Mary Wilbur
Mary Wilbur's picture

I have paid off every dime I owed. Once I wanted stuff because I thought it would give me higher status. What a fool I was. Now I'm 65 and I'm ridding myself of the burden of too much junk (although I have a great many books which I rarely weed out because I value them highly. I don't have electronic books because I can't write in them.) My most valuable possession is good health. In that I am extremely fortunate, but as soon as it's threatened or I lose it, I'm going to opt out. I refuse to put myself in the hands of the medical industry and expect the taxpayers to pay for it. 

 

Fri, 01/04/2013 - 00:33 | Link to Comment smiler03
smiler03's picture

Hi Mary, I sort of understand. Is that because you don't trust the medical industry or because you're altruistic towards the taxpayer?

 

If, like my father, you die of pneumonia and could have been saved by just a few injections of very cheap antibiotics then you'll just die where you fall? He inherited a distrust of Doctors from his own Father and he facilitated my Mothers death by keeping her from taking hypertension medication (high blood pressure and also very very cheap).  I presume you have no children or grandchildren.

I ask as somebody who was terminally ill myself and saved by transplant at age 47 and lost my Dad when he was 67, my Mother was 62.

On the positive side my Mother and Father had no junk at all, he also left his four children lots of money and most of the house contents went into a skip (very large dumpster). 

can predict in advance that I'll get downvotes because somehow we all caused our own illnesses. No obesity, quite the opposite. 

If you or anybody else will happily see your parents die young then I'll understand.


Thu, 01/03/2013 - 19:49 | Link to Comment Banksters
Banksters's picture

Attorney General Secretly Granted Gov. Ability to Develop and Store Dossiers on Innocent Americans http://www.wired.com/threatlevel/2012/12/gov-dossiers-on-us-citizens/ Dear NSA, CIA, FBI,  FUCK YOU. Signed,  One of many pissed off Americans

Thu, 01/03/2013 - 20:50 | Link to Comment yogibear
yogibear's picture

This is the guy that let the bankster criminals walk off. He wants to go after the constitution protecting citizens.

Eric Holder is another useless non-contributing, government check collecting lawyer:

Holder received his Juris Doctor from Columbia Law School, graduating in 1976. He worked for the NAACP Legal Defense and Educational Fund during his first summer and the United States Attorney during his second summer.

 

Thu, 01/03/2013 - 21:42 | Link to Comment lakecity55
lakecity55's picture

Holder spend most of his time defending islamic extremists and working behind the scenes at Waco.

When he talks about "his people," he is serious. If this guy ever gets true unfettered power, he will commit genocide on the white race. Think Hitler and Jews. Throw in any stray Christians or Jews. Ovens and mass graves. When we read stories about sociopathic psychos in gubbermint, this guy is one of the Definitions.

No Joke.

Thu, 01/03/2013 - 19:50 | Link to Comment max2205
max2205's picture

Didn't the depression renew when the Govt raised taxes too early.....hummm

Thu, 01/03/2013 - 19:50 | Link to Comment zilverreiger
zilverreiger's picture

jep thats what steeve keen suggests

 

Thu, 01/03/2013 - 19:50 | Link to Comment zilverreiger
zilverreiger's picture

As long as you get free Obama fried chikkin you'll be fine

Thu, 01/03/2013 - 19:53 | Link to Comment Salon
Salon's picture

I have cut back to almost nothing except weapons, armor, whores, and a little weed, maybe a little blow every once in a blue moon.

It is amazing how you can find everything you need including furniture, electronics, and clothes at resale shops and Craigslist. Really cheap.

Leaves more money for the important things in life

Fri, 01/04/2013 - 02:25 | Link to Comment Notarocketscientist
Notarocketscientist's picture

Come on buddy - stopping whining and use those guns - you know who deserves it right - not school kids

Don't be a COWARD!

Thu, 01/03/2013 - 19:55 | Link to Comment jim249
jim249's picture

Taxes just went up to. That should help a lot!

Thu, 01/03/2013 - 19:57 | Link to Comment The Gooch
The Gooch's picture

You can't buy what they don't have, either. Backorders accepted!

Can't even get a 10 rd. mag for a bolt-action!

That's a good sign, in my opinion.

You hear that, Uncle Janet?

 

Thu, 01/03/2013 - 20:05 | Link to Comment Freddie
Freddie's picture

Maybe if we switched to a guns, ammo and mags economy then we could reach full employment.

I would love to see what is going on at Magpul in Colorado.  I hope they are churning out mags.  The ammo situation is insane.

Thu, 01/03/2013 - 20:36 | Link to Comment Bad Attitude
Bad Attitude's picture

Guns and ammunition will always have value. Some believe ammunition may become a future currency.

At the range, I shot less ammo than usual because I don't want to burn ammo I can't replace. Everywhere I go, the ammo shelves are virtually empty.

Thu, 01/03/2013 - 20:44 | Link to Comment Chartist
Chartist's picture

These fancy guns only ensure one thing:  you'll get to die in style.  These weapons won't save you from the apocalypse, though they will provide you with a shred of dignity in your demise.  If you want to survive and flourish, get an education.

Thu, 01/03/2013 - 22:53 | Link to Comment Salon
Salon's picture

Hey your mom's calling and said it's time to quieten down. Her bedroom is right above the basement kid

Fri, 01/04/2013 - 02:24 | Link to Comment Notarocketscientist
Notarocketscientist's picture

Guns and Ammo Guns and Ammo.  All these blowhards can do with their big ol guns is kill kids... then they come to ZH and moan about the bankster bastards.

COWARDS!

Thu, 01/03/2013 - 21:36 | Link to Comment Edelweiss
Edelweiss's picture

 I was at my shooting spot Sunday.  Out of 5 guys, I was the only one who got a gun out and shot.  The others stood around and talked about where to try and source more ammo.  I can't remember that ever happening before. 

Fri, 01/04/2013 - 02:22 | Link to Comment Notarocketscientist
Notarocketscientist's picture

Big talk no action from the guns and ammo crowd.  

 

Seems the best you guys can do is waste some little kids or take apart a theatre of people every other week.

 

Put your guns where your mouths are - take the bus down to Wall Street and show us what your made of

 

Otherwise - SHUT - the - FUCK - up.   Your whinging is irritating

Thu, 01/03/2013 - 19:59 | Link to Comment reader2010
reader2010's picture

The problem is that Bernanke doesn't fly his choppers to Main Street.

Thu, 01/03/2013 - 20:04 | Link to Comment Hohum
Hohum's picture

"You can't spend what you don't have?"  That's not very creative ;)  Ask Turbo Tim and Ben B. about it.

Thu, 01/03/2013 - 20:07 | Link to Comment The Gooch
The Gooch's picture

It's a different set of rules for them.

"You can't collect interest on what you don't print".

 

 

Thu, 01/03/2013 - 20:07 | Link to Comment centerline
centerline's picture

.  wrong post... oops.

Thu, 01/03/2013 - 20:06 | Link to Comment timehill
timehill's picture
"You Can't Spend What You Don't Have

 

You've got to be kidding!!!  This country has been spending on the backs of their credit cards since the mid-1960's.  Somehow, they'll figure out a way to go deeper into debt.  They always have!

Thu, 01/03/2013 - 20:09 | Link to Comment caimen garou
caimen garou's picture

cant spend what you don't have and what you do have  don't buy much!

Thu, 01/03/2013 - 20:15 | Link to Comment I am Jobe
I am Jobe's picture

Fuck buy more iCRAP and fill up those garages bitchezz.

Thu, 01/03/2013 - 20:15 | Link to Comment AldoHux_IV
AldoHux_IV's picture

You want to tax, then consider closing loopholes for cap gains/div taxes where the real money is at-- taxing income via payroll tax benefit cuts and/or social security is just hurting the little people, but that's the American way now isn't it?

The real solution is to end the fed, not pay taxes, and reform the shit out of our political process anything else in the meantime is more wealth transfer.

Thu, 01/03/2013 - 20:16 | Link to Comment CheapBastard
CheapBastard's picture

This dismal news is good for a 100 point rise in the Dow and a "bullish housing recovery" outlook.

Thu, 01/03/2013 - 20:22 | Link to Comment foodstampbarry
foodstampbarry's picture

But I still have checks, so I must have money.

Thu, 01/03/2013 - 20:33 | Link to Comment AynRandFan
AynRandFan's picture

Don't forget, consumer confidence is near an all time high!

(Or so we were told, just one month ago.)

http://www.nytimes.com/2012/11/10/business/economy/consumer-confidence-c...

Thu, 01/03/2013 - 20:31 | Link to Comment Jack Burton
Jack Burton's picture

The temperary cut in Social Security Payroll takes expired. This hits most workers hard as all their income comes under that tax. Granted it was a part of the stimulus bill to give consumers extra cash to spend, it was not renewed because the lack of revenue puts the SS system under stress.

Anyway you cut it, the tax going back to normal reduces the take home pay of most Americans. Consumer spending growth has been all down to crdit expansion and equity cash outs from the housing bubble. Both bubbles have long since burst and average workers now rely on earned income to consume. Most Americans have had no income growth after inflation for decades. Borrowing filled the gap, borrowing is over, consumer spending MUST decline.

The notion that corporations could boost profits by sending manufacturing overseas to cheap labor was proved totally correct. We have seen many record corporate profits. But now we are entering the era when the lack of domestic jobs and thus income is about to bite corporations in the ass, as the workers they fired 'en mass, were also their cutomers. Customers are nearly broke now, so corporate profits may have peaked. The foreign workers they hired are paid so badly, that they can not step in as customers and pick up the slack.

I heard a Chinese worker interviewed and he was saying that all the consumer products leaving his vast factory are too expensive for any of the workers to buy. They make 'em, but could never afford to buy any.

This is what passes for smart business sense in the era of greed gone mad.

Thu, 01/03/2013 - 20:57 | Link to Comment Caviar Emptor
Caviar Emptor's picture

Bernie Madoff proved you CAN spend what you dont have...for 4 decades. And in a BIG way! 

He emblemized the 'something for nothing' economy and the zeitgeist of our time. All he did was dare to dream and do it in a big way. 

He is a national hero

Thu, 01/03/2013 - 20:57 | Link to Comment ebworthen
ebworthen's picture

Don't tell the MSM, they are reporting better than expected retail sales and car sales and the end of the depression.

"All is well, spend-spend-spend" is what they are broadcasting while unemployment and the economy still suck.

Thu, 01/03/2013 - 21:36 | Link to Comment q99x2
q99x2's picture

Not completely correct. A lot of companies are taking payments under the table and not reporting them more than ever. That's ok by me. Starve the beast I say. We are headed to an electronicless cash based society.

Thu, 01/03/2013 - 21:42 | Link to Comment StoleYourMoney
StoleYourMoney's picture

It's called GLOBAL RECESSION.

Thu, 01/03/2013 - 22:15 | Link to Comment Yes_Questions
Yes_Questions's picture

 

 

those making over $90k per year report recent spending at its lowest for this time of year since 2008

Probably because they are supporting adult kids or helping family.

Thu, 01/03/2013 - 22:34 | Link to Comment Youri Carma
Youri Carma's picture

I like to add; Since U.S. ecomomy depends 70% on consumers this means in short:

No Consumers, No Economy!

 


Thu, 01/03/2013 - 22:55 | Link to Comment Salon
Salon's picture

Pass the plan along to your friends and fellow patriots.

Here are your orders for the American Spring.

This can work

Fri, 01/04/2013 - 02:30 | Link to Comment WTFUD
WTFUD's picture

"You can't spend what you don't have. . ." Fucking Priceless!!!
On a lighter note as am feeling a lot of your pain folks

You know when you're being bogged down on a daily basis with all the doom; thievery; contempt; lawlessness ; greed ; et al. Then suddenly you get a flash of hope, maybe it's not All rotten, a tiny spark;

Did Anyone get a glimpse of those Sniden Joe Biden "PEARLY WHITES? Those Gnashers are to Die for! ( look it's not much. . . but. . just sayin. . .)

Fri, 01/04/2013 - 04:16 | Link to Comment luna_man
luna_man's picture

 

 

"Those Gnashers are to Die for!"...

 

Don't do it "WTFUD"!...They're probably FALSE!!  :)

Fri, 01/04/2013 - 17:05 | Link to Comment roadhazard
roadhazard's picture

I could not believe the xmas store discounts. No wonder they didn't make any money. 50% off and another 15% off if I applied for a store credit card. I'll cancel them next month. The girl at Sears told me she'd give me the pants I was buying if I applied for a Sears mastercard. Unreal.

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