This page has been archived and commenting is disabled.
Personal Income Rises At Slowest Pace In 5 Months As Savings Rate Drop
Personal income rose at 0.3% MoM in August, the weakest growth and biggest miss since March's tumble. At the same time spending rose 0.4% MoM, slightly more than expected. Of course this relative shift means the savings rate declined from 4.7% to 4.6%, which is to be cheered by economic models the emphasize spending over saving.
Income growth slowing dramatically...
Which means the savings rate has dropped to 10-month lows...
And in context...
Charts: Bloomberg
»
- 5060 reads
- Printer-friendly version
- Send to friend
- advertisements -
Why save when the vampires keep sending me zero percent credit cards that bump up to 22 percent in a year to 21 months?
take their 1% 13 month loan and buy gold, make min payments.
Sell enough gold to pay-off when rates rise.
THINK GOLD WILL RISE IN 13 MONTHS???
LOL, funny because the propaganda at CNBC is the exact opposite... "consumer spending raises.."
fucking halarious.
I need a raise on my SNAP card or shit's going to burn. Got it?
How much longer can they conceal this shit show?
I've been asking myself that same question for years now. Still don't know the answer.
At some point the people actually pulling the cart have to be irreversibly hurt by something. Here in Chicago it's a massive tax increase proposal so inner city kids can be contained in their killing zones and so the city can still have the pretense that public education is "for the kids".
Savings are being drained and assholes on CNBC cheer.
Not sure what this looks like in the rest of America, but overall people are pretty fed up in the places I visit. Just not to the point of taking actions.
Once they begin to starve, they will take action as necessity is the mother of all invention.
Same as it ever was...
Presumably, this is what Dudley was looking at when he made the laughable remark about raising rates? Wake up America, these people are liars!
Preparing an amazing dinner of seed corn and my last chicken. Things never looked more UP!
Personal saving down? No shit!!
Is this outside of people cashing in 401Ks? That's the other edge of this knife.
Wonder if personal savings are down because people are hoarding cash.
about 50% of americans dont have a 401k, pension or retirement plan. Im sure a good amount who do have a 401k think things are going just dandy and pay no mind to financial news. Yellen has it handled and ignorance is bliss.
A 0.3% income rise works out to about 4% per year. It ain't coming from higher rates at your local bank - so who is getting 4% pay raises every year?
This measured "savings" isn't really savings; it's just income less consumption. So, most of the "savings" is paying down debt. For most, savings is a pipe dream.