This page has been archived and commenting is disabled.
Middle-Class Spending Expectations Crash, NY Fed Reports
It appears someone forgot to tell The Federal Reserve Bank of New York (FRBNY) how to 'seasonally-adjust' its data to meet the narrative. In February's survey of consumer expectations, FRBNY reports a collapse in consumer spending growth expectations in January. Even more worrying for President Obama's "middle-class economic" strategy is that the biggest plunge is among the $50-100k income cohort. Not exactly the picture of the 'wreckovery' Americans are supposed to be buying right now...
All those jobs... all that wealth created... all that low-gas-price-tax-cut... and spending expectations collapse...
Across all incomes but mostly in the middle-class!!
Not the "recovery" everyone is being told about?
»
- 9311 reads
- Printer-friendly version
- Send to friend
- advertisements -
yea shit always flow on the top
Bring out yer dead.
Nonsense, I've really picked up my prepping supply buying. Bullish
They must not have counted the several hundred dollars I paid in ObummerCare tax penalties. Sorry local businesses, but on the brite side federal spending should pick up once they factor that in.
you didn't check the box? read the exemptions-one of them; ...will cause financial hardship- ah ya.. not joking, no sarcasim.
Middle class hell with that. People should be paying attention to what the wealthy are doing, not saying:
If Obama is the “Economic Messiah” why Have a Record Number of Wealthy People Abandoned US CitizenshipA debt shackle ankle bracelet & 250 lbs lead ball in every pot.
Pretty much describes Obama Care. Can't believe how easy merikans are taking this... They just complain a little but pay the bill. I guess gov knew this and is why they weren't afraid of passing the bill.
Are we cherry picking which Fed numbers we believe?
I don't believe any of them
we are at the tail end of the great keynsian debt ramp. world wide debt mountains. gdp negative if all this debt stimulas taken out. only organic growth has been harvested and is in my frig. 100 trillion. debt worldwide. 3 x gdp. incomes flat or falling relative. so what next to keep the plebs spending? lower rates? government deficits and moar socialization to keep er going greek style. we have to be getting near the ramp down.
Yeah nd F your charts and all your garbage brainwashing, What little is left of middle class, Some are stupid and taking on more debt, Rest are bulding firewalls on every level. Ain't spending one single dime buddies,
I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do... www.globe-report.com
but nail gun futures are UP!
I'd have never guessed this is what happens once you kill the goose that lays the golden eggs.
"Not the "recovery" everyone is being LIED TO told about?"
Gotta save all our pennies to pay the tax man in April.......
Everyone can feel that something is coming. Obama's bullshit won't be able to sweep that away.
No, but a $125/hr. plumber might be able to roto rooter it out of there.
I'd support Obama if he told half his supporters to get real jobs instead of working retail and fast food. But that wouldn't get votes for the party now would it?
I gotta bad case of diaria....gotta go....
The collapse appears to have the glide ratio of a pair of pliers.
Said it earlier today and it bears repeating: The American "middle class" is FLAT FUCKING BUSTED. Article after article decrying the average American's lack of savings and/or retirement accounts and NO ONE ever touches on the real issue: they have no goddamn scratch. Hard to bolster your IRA in $25/month increments. These pundits act as if ALL Americans are simply profligate spenders and not getting by paycheck to paycheck. This should clarify and cement the notion that spending is collapsing because they don't have two fucking cents to rub together AFTER getting fisted by medical bills, car registrations, health insurance, skyrocketing food prices, etc. Oh sorry - can't neglect to mention the GIFUCKINGNORMOUS windfall from lower gas prices. I would be remiss cuz we do have that after all....
I guess their plan has worked quite well.
Time to build your NRA increments!
ObamaCare and Health Insurance costs are raping everyone. I dont have insurance and it looks like I gotta pay 1200 bucks this April. $100 a month for NOTHIN and next year it will be 2400 bucks for NOTHIN not because my income went up but my penalty DOUBLES.
Looking forward to drudges next tweet
"Leave while you still can"
-Matt Drudge
RAISE THE RATES
Hey, if you don't like the look of the economic fundamentals then just don't look at them.
Instead of this chart just pull up a monthly chart of the SPX starting in 2013 and all your worries will melt away.
let me see...
70% of this dead economy is consumption based right???
therefore this news means - Dow 20,000!
Didn't somebody just say "That's not what the fed tells us"? I can't find the clip, maybe it was edited out.
#MiddleClassLivesMatter
p.s. - We Can't Breathe Either!
if i'm lower middle, all i can say is nothing xtra being spent here. food, gas, monthly bills, home breakdowns, car fixes, naada else. no vacations, furnature, gidets, nothing naada, folks, i have xtra money but nothing is gonna be pryd out of my hands. gone isreal- spending wise...fuck marketing and subliminal messages. not even valentines bullshit. another mind fuck to get your money out of your wallet. fuck em and their bullshit phoney ass programing to get ya to weaken and buy shit. one cheap ass mutha fucker here....
I am with you on this one. The wife and I agreed to skip Valentine's Day...or at least the phony part of it anyway. No cards, no chocolates, no Vermont Teddy Bears, no Flowers. Money going to Food, Mortgage, Utilities, etc. And I know dozens of other couples just like us in our circle of neighbors and friends.
Lucky you.
My wife received a small settlement.
Reminded me she was not going to " waste " it on bills. She's going to have something to show for it. ( besides a warm roof over her head, and stupid food, gas,electricity, car insurance, blah, blah...)
She's a buck se argent in the FSA, by the way. And NONE of that goes into the ranch or upkeep either.
I made it, I live with it.
Not even a Vermont Teddy Bear...!?!?
Scrooge
... things just don't add up ... somebody is lying ...
Burnt out Maserati in every 'hood and horse in every lasagna
The American electorate has voted for no middle class the since at lease 2006.
Let those ignorant fucks reap what they sow.
The middle income people were abandoned years ago with all the "FREE" trade treaties and the off shoring of production that went with it. Then to kick them while they were down they increased the H1B program importing cheap professionals. The coup de grace is the importation of very cheap immigrant manual labor which leaves only scraps for american citizens.
We are now witnessing the last stages of the destruction.
Wow. Are they trying to tell us Middle Class something we haven't already known for years. Just getting used to " No raise this year either". Oooops, time for a layoff.
It happens when people are forced to spend 18% of their gross income on Ocare - premiums, deductibles, co-pays.
Depression reset 2016 - 2020
Get ready
All bubbles will go pop
Relax, it's just the cheap gas.
all I can say is my wifes insurance went up 86% last year-first year of obamacare-
but at age 63 we do have good maternity care.
we checked into her getting 1/2 of my social security at age 63 but were told she earned to much and we do not qualify fo rher to get 1/2 of mine--however, we learned that spouses that do not work automatically get half of the other spouses soc sec without paying in. We also learnd that spouses that do not work a day in their lives get medicare, just the same as people paying in for 40 years or so.
This is a great fair system. It always seems like I am on the short end of the system. When I was terminated 18 years ago I got 2 years severance that was paid lump sum and it put me into a highest tax bracket and lost deductions.
Obamas fairness doctrine might never help me. I find I have more dependants than I can afford and not one ever thanks me for working my ass off for them to stay home. I also look arounf and know I spent time in the military and while I see many who do serve this country, I see far more who are here to take whatever they can get out of this country as thats what we have become known for.
When things start breaking here we are going to multidimensional class warfare, caused by the imbeciles running this country.
too bad, when I think about my youth, I think of when my mome gave me a dime to ride public transportation and there was no fear about me going out or on public transportation even when I was less than 10. We did not have seat belt laws. When I took a shower I did not need 3 lights in bath to light up the room, one did it, and the water pressure was great, and to fill up a tub for a bath used the same amount of water than as now-it just takes longer to fill now which our elected leaders confuse with conservation.
Oh well, if i could do something about this I woudl but I cannot even get my local officials to e mail me back or see me, let alone the national elected ones
Spouses that work will get the greater of their personal benefit or 1/2 of the Retired party.
It's really confusing. But you might want an expert look into it.
Most of the "housewives" I have known have added more to the social good than most of the "working" women I have known. The times you look back on with such fondness were times when women stayed home. You say "spouse", but it is women whom you are talking about; I have never seen a man get half his wife's SS or Medicare due to his wife's years of work.
Obama's Legacy - Bong & Dong
Spending expectations are a function of employment. If you are afraid you could lose your job, or afraid you won't be able to find another job, what choice do you have. The current 5.7% unemployment rate calculated by the BLS is a joke, a "Big Lie".
http://www.globaldeflationnews.com/the-big-lie-about-the-u-s-jobs-pictur...
At least I can be "Patriotic" and pay my taxes...