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This Won't End Well
Presented with little comment aside to ask (rhetorically of course) how
much longer the crushed consumer can subsist on a diet of increasingly saturated credit and dwindled-savings before retail sales revert to reality...
h/t @Not_Jim_Cramer
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Just stop paying your mortgage/rent/student loan = mo moneeey !
What is this money you speak of?
Just call up your local credit card loan shark, get the limit bumped, and keep on paying the min.
flacon
the money tree duh...you are the only one here who doesn't use it, the rest of us eat steak and drink Cali cabs a each meal. Things are so cush we have the guy with the bucket follow us to each dining experience.
My next car will be Leerjet and I'm dating Heather Locklear. Obams and I do 18 rounds every Sat., Ben does my shoes. Most of the guys here have it all figured out...except you, poor man.
How about all the BMW's Audi's and Mercedes Benz's. I see them everywhere. I feel so poor when I'm driving around in nj
Leverage. Credit is being pushed to the limit this time.
I asked this question a few months ago, and after a stupid amount of investigation it's nothing more sinister than people buy on credit, then resell it on ebay or resale websites like craiglist. The economy, right down to flat screen tv's has become reverse-repo.
This is why margins and inventory turnover has stalled. Every consumer is now a local Best Buy with a product lifecycle only as good as the lease period or half-year credit card review.
Food stamps and every other handout the masses take advantage of.... its all bullshit.
Watch credit card debt numbers, and personal debt, otherwise.
Where are they getting that money from? We are from the old school. In our universe you save first. Some goes to investments, some to cash, some for the pantry, then the essentials and a few just for kicks. These folks do not think about retirement. They do not think about ten years from now. Hell, they don't think about next month. But they will buy a new pair of jeans, a new phone, expensive mall food and a tech toy or two. They can do this because they don't have cash or food reserves or investments and they are "putting it on the card". They get paid, have fun and if the utility companies are lucky, they get paid.
I know some who refinanced at 3% (saving $200/mth) and did not save a dime. They just HAD to get the back deck restained that pretty redwood color like the one in Southern Living. And of course, what's a new deck without a new grill and smoker? You get the pic.
maybe they're thinking: "let's borrow and spend it now before hyperinflation kicks in", afther that it doesn't really matter how much you borrowed, your $10,000 loan will probably be less than your daily groceries : )
Credit Card(s)
Paying of one credit card with another credit card while collecting Food Rations.
Count how many people are buying things on Plastic Cards more than $10, includes McDonalds
Do you get tired waiting in a queue while the person in front is on their third card.
We live in a plastic world good sir. Easy to spend money you never had with no intention to repay the debtm
Apologies for the mixed metaphor, but...
All income is measured in terms of government goal posts. How low can you go?
How many people are involved in black/grey markets, and report little to no income? How many gubmint employees bump their income prior to retirement, only to double-dip?
Just sayin'
There's these things.. called jobs.. that people get, and in return they get money.
"This is not end good"
There, Boris is fix for you.
is good bad?
Hey Boris,
With the Olympics just a few weeks away, I was wondering if we can count on you to provide translation and inside commentary on the news reports from the region. You know how the media likes to "spin" their stories to support their agenda. I'm hoping you can provide an alternate analysis to the day-to-day events.
Thank you in advance.
Mr. Again,
Boris is cannot afford traveling to Sochi. Beside, Boris is trigger geiger counter so cannot to enter security check point (this is problem since Chernobyl). Boris is only read internet story, but maybe is compare Russia and AmeriKa spin and share. Boris is anticipation of many gay liberation story from USSA press and Russia press is suppress* story. Boris is predict Chechnyan terror attack.
You are advance thank you.
Boris
(* Old Joke is "Soviet Union People Press" is abbreviate SUPPress:)
For example, can we trust the Russian figure skating judges? Rumor has it that they tend to be a bit biased.
No and yes, but you can predict outcome because Russia official is consistent in corruption and duplicity.
Tonya Harding will finally get the gold.
@Boris
Personally I expect to see something big from the swedes. They seem to be point of spear for the gay liberation front. That year in Moskva at the summer games some of the female athletes painted their fingernails rainbow colors in protest to Russia's policies towards gays. I believe the Swedish foreign minister has already declined to visit games in a show of solidarity for the gay liberation front.
Boris makes a great point.
Remember a short while ago, when Vlad the Bad (sounds like a plastic antiseptic toilet seat wrap) met with the King of Saudi Arabia, they'd come to some mis-understandings about Iran and pipelines.
The Saudis, to their benefit (re honest assessment in no uncertain DiploSpeak) told Vlad that if they got their way (Not Vlad's) then KSA would guarantee no Chechnyian rebel guerrilla terrorist attacks at Sochi because they stated they were the force behind said bad asses.
Go figure.
And some open intel sources indicate that there are already some US troopies on the ground near Sochi just in case.... but then again, were are there not some US forces deployed?
And since Prince Bandar controls the Chechan Rebels, and, since the Tsarnev Brothers were Chechan Rebels whom bombed the Boston Marathon then I must suppose that Prince Bandar funded that attack?
When the US Government wants a False Flag Attack they can always count on their best allies in terrorism, the Saudi Government.
Oh gee wiz... and the HowdieSawdie connections to 9-1-1, huh?
The King of KSA said that? Then he's a dead man if there's an attack at Sochi, because Vlad is the kind of man with whom one does not fuck.
Yup...
Was reported in several offshore reputable publications (sorry, don't remember which, but was KSA position blessed by HisHigness) as one of the "leaks" from the meeting as per main negociating point surrounding who's holding whose dick while inserting it into list of unmentioned (US, Iran, Israel, Syria, etc.) problematic third parties.
Affirmative action Olympics. The productive are supplanted by the politically expedient causes. That's just Wundergoddamedfuckingful!
A microcosm for the current, unproductive, politically driven world in which we live.
If you like your retail sales...
Bullish
Hahahaha! You are invoke bovine excrement of Destroyer-in-Chief. Please to let Boris finish...
"you can keep you are retail sale!"
KeeeeerrrrrrfvkinCrash!!!!!
Bitchez
Holy shit, look at the overshoot..
I think Mr. Lewis is on to something here :) now when will the Lame Stream News start delving into the real Unemployment Numbers?
Economic Expert Hunter Lewis: We Are in a Depression!http://www.breitbart.com/Big-Government/2014/01/13/Economic-Expert-Hunte...
Good to see that we continue to "beat expectations" all the way down...
same as it ever was...
(until it isn't?)
You are like talking head?
Byrning down the house.
How did I get here?
Nothing to see here. Move along...
Good time to open a Fifty Cent Store < make it up on volume >
Great idea,
but shouldn't that be fitty cent?
FORWARD!!!!!! Call this progressive? Die you leftist pigs.
No reason to wish ill will.
I prefer to express my desire that their wishes to come true.
im willing to bet the red line doesnt catch "up" to the blue.....
Political hacks would read this as you betting that Republicans will never catch Democrats.
A poll may be executed as supporting evidence.
Must be some disposable income from under the table there somewhere.
Maybe the banks will let the "consumer" in on the rehypothecation scam.
"Julie, I just rehypothecated my neighbor's house and can now buy a new 100" 4K television and still go to Hawaii. Isn't that great! You should do that."
"Guillotines prefer banksters."
"Guillotines prefer banksters."
There are so many crooks along with the banksters we are going to have to run 3 shifts and an assembly line.
Whackem and stackem 24/7
How long? ......as long as there's easy money, EBT, UEI subsidies etc...and new gadgets like a Google Thermometer!
I hear the rectal thermometer by google has wifi....
Another NSA plot.
@IridiumRebel
Someone needs to buy a box of those rectal thermometers and stick them up fonestars rectum!
We could all then log into his brain via the wifi...........
yeah but their stocks are way up so it's all good
nothing that extreme couponing cannot take care of.....
We've expanded POMO to start buying things from retail stores across America. This will continue until the economy recovers.
Does this include the off-the-books eCONomy?
I want to see a chart on Retail vs Disposible diapers. You can start with Target...
We should run DMV checks on all these FSA takers, and see what kind of cars they drive and if they're paid for. If some douchewad is driving 2 year old BMW,Benz ect. they should be scrutenized further. ( As in, thrown into the 'Grey Bar Inn' for fraud.)
I used to be a Saturday Site Coordinator for Habitat. We built a house for a single black mom and her 3 kids about 4 years ago.
Today, a 2008 BWM 330i sits in the driveway.
Makes me want to puke.
I thought Habitat was based on the inhabitants doing a lot/most of the work themselves, so they would value the end product? Is that true? Do they get special mortgage rates?
Maybe in the last few years she got a great job?
"Maybe in the last few years she got a great job?"
Perhaps she did, although I seriously doubt it. Why would a single Mother of three purchase a car that has zero practicality for a single Mother and her 3 children? We can clearly see where her priorities lie, and the likely reason she needed help in the first place.
How old is the oldest boy now? Reason I ask is that I used to live across the street from low income family, nice hard working folks but one of there sons grew up to be a gun/drug runner and drove the most awesome rides(when he wasn't in jail that is).
That poor woman needs to drive a 6 year old luxury car. We need to give her more handouts so she can buy the 2014 model.
Haha. Jokes on you.
...She wants you to build her another free house so she can flip it and upgrade to a 5-series.
You're the loser.
Kill the bankers first. They've stolen much, much more.
Dow in triple digits as I type. NDX pushing 2% gainer for the day. HAVE YOU NO FAITH!!! This Time Is Different!
All will end well, Janet has a college degree and has promised us good growth and a strong stable economic for the future. She said so. It's part of the grander "Change You Can Believe In" program the Prez has going.
sunny
google thermostats for everybody!!
That's funny, the chart shows retails sales declines preceeded disposable income but not this time. Ummmmm, it ain't all car and student loans, so what is it?? So much distortion.
helicopter drop coming up soon!!
Sorry, but just looking at the chart, why does it seem like retail sales is a leading indicator compared to the disposable income and not the other way around?
Yeah, 2008 looked like the outlier and look at dot come period too! Can't resolve what this could mean.
if you think about it the answer will come to you
Not to mention our all mighty over-printed in plenty of supply dollars.
Lots of disposable income in Colorado and Washington State.
surge in eye drops and doritos sales
on the washington coast maybe, but east of the cascades is pretty hungry. (unless you are illegal farm hand)
Letting a private entity create money from thin air, and then charging us daft fuckers up to but not excluding 5,900% interest was the start of this downfall??
And we be suprised be we? This isnt a scam, this isnt an unforseen problem, this is outright and a fucking dispicable 'Robbery'.
This is the greatest fucking ploy against the working class ever known. We have been robbed, they dont just want your labour folks, they want the fillings owt your fucking mouth.
The fuckers want hanged, by their necks till dead, just to be sure. I say it again, this is robbery, not recession, a right royal fucking thieving is what this is, on our dime.
??
This woman would like a word with you...
https://www.facebook.com/deepthoughtsbyjanetyellen?ref=profile
Just once, I'd like to see you open up and tell us how you really feel!
What the hell can we do about it, that is the question.
...
Retail sales, like income and wealth, is largely driven by the top 5%.
I want my mtv.
I want my Obamaphone!
One does not need disposable income in obamas america. The government shall provide for you everything they deem necessary for you to have.
Disposable Income? You mean outside of FSA?
considering to enlist in the FSA. Unless there is some academy that I can get on the path to the officer training corp.
Throw a little of this and we'll be fine. No worries mate.
http://townhall.com/tipsheet/guybenson/2014/01/14/survey-not-enough-youn...
Please translate to actual spending from YOY stuff.
On a side note, I defaulted on some of my debt two years ago after going to a consolidation service and my FICO score is a complete joke..... somewhere around 590
Yet somehow I still receive credit card offers in the mail, so I decided to conduct an experiment and applied for one anyways. Well guess what? The bastards at Capitol One actuallly sent me a card, it's on the way, not sure of the limit on it. Are these theiving bastards that desperate to rope people in?
You betcha, gotta keep them iGadgets flowin.
You defaulted and then conslidated?
Correction:
What I meant to say was I went to a consolidation service, so I ended up defaulting on just around half of what I owed to creditors.
The Royal Canadian Mint's ambition to launch a secure system to send and spend digital currency, nicknamed MintChip, has passed a new milestone.
While still in research and development mode, MintChip's first proof-of-concept implementation — an integration with a retail point-of-sale terminal made by Paris-based Ingenico — is being displayed this week at the National Retail Federation's annual convention in New York.
First launched in April 2012, just days after federal Finance Minister Jim Flaherty announced the penny's days were numbered, MintChip was introduced as a potential way for consumers to digitally exchange money in small denominations, in transactions of about $10 or less.
It could be used in place of cash to buy a coffee or fast food, and online it was envisioned to enable easy transactions for things like buying music, news articles, or add-ons for video games.
Consumers could use MintChip with a mobile device at a cash register or send money with a text message, email or potentially a social media message.
"We call it a digital cash-like product and we like to dub it as a product that's been architected for the 21st century," said Marc Brule, the Royal Canadian Mint's chief emerging payments officer.
The FED changed the way things work. FEDs print most everything for people these days. They don't need money the way they way they used to.
I've been getting along fine for the last 18 years without working. I have no plans for ever working again.
Hillary is going to get elected in 2016 and kill everyone. So who cares.
I do not understand this fuzz: who cares about THE consumer? We have the social institution, called FED. The pitcher goes to the well....you know the rest. As long as politicians, elected and unelected (all over the world) allow this policy....only bright sunshine. Join the party!
Depleted savings isn't nearly as big a problem as depressed income.
We're not going to see a real recovery until people start getting paid more.
The Fed, and the feds, have destroyed any notion of free market price discovery.
Everyone I know, including friends who are the best in the world at what they do, have been very adversely affected by this.
I don't get it, can't they just print some money?
Last night I wandered through the local mall--the biggest and fanciest in the state, located in an upscale suburb.
All kinds of store spaces are now empty, far above the usual couple of stores coming and going at any given time. Some of these have been empty for a year or more. Some are very large spaces.
There are three closed food spaces in the food court. I have never seen even one empty food space in this mall's history.
Most of the retail clothing stores now have 50% to 70% sale signs in the windows, and some say "on everything in the store."
Foot traffic, by my anecdotal reckoning, is way, way down.
The only thing the mall isn't short of is crotch-grabbing baggy-pants prison-emulating inner city hoodie rats. Sometimes entire racks of clothes go flying out the doors of the two big department stores according to local reports. I always park my car under one of those giant lamp posts at night.
c'est fini.
Mall stories seem to be very local. Tysons Corner and Potomac Mills are hopping on all cylinders. Landmark, not so much. And Springfield is currently gutted for redevelopment - we will see if it comes back when the construction is done.
Does anyone remember the stories about horrific figures from WalMart last February?
Maybe it's about to get real this February.
BITCH COIN BITCH PRISON - BEANIE BABY Founder Goes to Jail-NOT after 15 years - BTC/BEANIE Fraud Does Pay
The mother of all Bitcoin Bitches has been sent to club-fed, $10 Billion capitalization, just like BTC today.
Mother of bitcoin.org ( Satoshi Fraud ) find's god in BTC.
*** Judge Offers to Sell Beanie Baby Founder Bitcoin
Beanie Babies creator gets probation, no prison
Businessweek - 17 hours ago
CHICAGO (AP) - The billionaire businessman behind Beanie Babies was sentenced Tuesday to two years of probation, but no prison time, for not paying taxes on millions of dollars stashed in Swiss bank accounts, with the judge praising the toy magnate for ...
Beanie Babies maker avoids prison for tax evasion
Houston Chronicle
Beanie Babies creator Ty Warner won't serve prison time for tax evasion
***
Satohsi is CIA/NSA/IRS so it he couldn't be sent to prison either.
MORAL: If you must steal and/or ROB people, Steal BIG.
No, the true moral is: If you must steal and/or ROB people, get a job with .gov.
But retail sales were up.
What a fucking shit show.
All my disposable income went to health insurance this month since it just doubled on me.
Looks like the consumer driven necronomy is just fine. I'm only surprised consumers were not tapped out long ago. If the coming 50% hikes in energy costs don't kill the consumer, the shock of higher costs for obamacare and the new normal 29 hr work weeks will deliver the coup de gras.
We were warned.
"You can't drive our SUVs and eat as much as we want and keep our homes on 72 degrees at all times... and then just expect that other countries are going to say OK. That's not leadership. That's not going to happen." -- Barack Obama
Looks like the consumer driven necronomy is just fine. I'm only surprised consumers were not tapped out long ago. If the coming 50% hikes in energy costs don't kill the consumer, the shock of higher costs for obamacare and the new normal 29 hr work weeks will deliver the coup de gras.
We were warned.
"You can't drive our SUVs and eat as much as we want and keep our homes on 72 degrees at all times... and then just expect that other countries are going to say OK. That's not leadership. That's not going to happen." -- Barack Obama
Looking at that chart, does anyone believe that disposable personal income per capita YOY is currently down only by -2%?
I fuckin' wish. So does my mall.
I got a 3% raise effective Jan 1. I went on a diet thus reducing my food bill as part of my new years resolution and so I can wear the sweater and warm socks my daughters bought me for Christmas, I lowered my house temp to 63 which will lower my heating bill. So as of right now, my dispoable income is actually up. :)
You do mean "aside 'from asking'" don't you?
Is the money you spend on ObamaCare count as disposable income?
It's certainly disposable for Bath House and Mooch.
This is difficult for me to post because I agree with the premise we are in for a world of hurt. However as a purist and lover of math I think the message implied by the circled part of the chart is inherently flawed. Just because the percentage is negative that doesn't mean in aggreate real dollars they can't keep going.
Here's an example. Let's say last year my discretionary budget was $100 and I actually spent $50. This year, my budget drops 2% to $98 but my spending jumps 8% to $54. Using the chart logic above I would be in deep trouble when in actuallity I am still operating well in the black.
In short, I think Zerohedge circled the wrong part of the chart. What they should circle is the entire area where the blue spending line is above the red spendable line. From my example above you can see that the part circled is not a problem in and of itself. Its only when the spending tops the amount available month after month, year after year that the problem sets in. If you look at the chart the spending has been beating money available in most time frames since the Y-axis. THAT'S A PROBLEM, but the circled part by itself doesn't mean much. As I said, I agree with the basic point - How much longer can this go on?
Its only when the spending tops the amount available month after month, year after year that the problem sets in.
CBW, It is difficult for myself also. Since the above describes .gov spending. They have, year after year spent far, far more than was available.
THATS A PROBLEM.
And I also wonder, how much longer can this go on?
Let's see. A digital currency stored in bits and bites on server farms controlled and routed through the NSA, hooked up to an antiquated electrical grid subject to an EMP? What could possibly go wrong?
There is a story in the NY Slimes that the in ess a has developed a wireless means to bust your laptop.
Soon your BTC will be Their BTC.
Go long PMs buried in ammo box or lost in lake.
Yep, I just read the article.
http://www.nytimes.com/2014/01/15/us/nsa-effort-pries-open-computers-not...
Boris, can we have a feed solely dedicated to you my friend :)
It won't well at all but rather in legalized theft.