Obama Oversaw The Weakest Growth In American's Personal Income On Record

Tyler Durden's picture

Submitted by Eric Bush via Gavekal Capital blog,

Over the past 10-years personal income in the US has increased at a 3.39% annualized rate which is the slowest 10-year annualized growth rate since the data began in 1960.

Clearly, there has been a ‘stair-step’ decline in the growth rate of personal income over the past several decades. In the 1980s personal income averaged a 9.5% annualized growth rate, in the 1990s it averaged a 6.4% annualized growth rate, and in the 2000s it averaged a 5.2% annualized growth rate. Thus far in the 2010s, the average annualized growth rate has fallen to 3.9%.

Even as the growth rate in personal income has slowed during the course of this decade, the American consumer is saving more money by spending less than they are making. In the chart below we show the spread between the 10-year, annualized change in personal income and the 10-year, annualized change in personal consumption expenditures. When this spread is positive, as it has been since 2010, it indicates that consumers are spending less than they are making.

This chart illustrates just how rare it is for Americans to spend less than they earn in the post-WWII era. From 1976 – 2011, US consumers regularly spent more than they made. 

The global economy needs to recognize that there is a new “smarter” American consumer out there as two-thirds of Americans now say they prefer saving over spending compared to just about 50% agreeing with that statement prior to the GFC.

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AC_Doctor's picture

That's because the little faggot was banging Michael in the ass and jerking off to Climate Change instead of taking care of important matters...

 

FreeShitter's picture

Obama is a stain on humanity but look no further than Greenspam, Bukkake, and old yeller for this mess.

Squid Viscous's picture

jewish fiction = fake news

economy, foreign affairs, etc.

lying like snakes since 700 AD

always catches up with them, this time not different

groaner's picture
groaner (not verified) Squid Viscous Jan 30, 2017 8:24 PM

Jesus called them out big time, then they killed him

Squid Viscous's picture

if not exterminated completely they will re-group somewhere, maybe "save" a W. African nation...

like bedbugs

FreeShitter's picture

Starting with the hampsteins.

Squid Viscous's picture

yes, start there and move west, methodically

split 15% for the "northeast of throgs neck bridge" infestation.

rest continue down I95...

dispatch small forces to the hives in Beaver Hill Pa and shaker heights, cleveland, and northside chicago

we have amphibious seal teams landing in Santa Monica and Sauselito infestation zones

all teams report back at 13:00 GMT

War of the Worlds 20___

 

 

lead salad's picture

The only growth in the 0bama administration was in his pants when Reggie Love was near......

Yen Cross's picture

   Obama ---  What's to say?

  He created more "part -time" jobs, then any TOTUS in history.  

groaner's picture
groaner (not verified) Jan 30, 2017 8:22 PM

Yup a good commie, destroy economy , support gays, cause massive immigration .. check!

Everybodys All American's picture

Add the inflation not reported and that's all you needed to know why Hillary had no chance in hell of winning. When your pocket book is that severely affected and the party in power ignores your pain you begin to see why we are where we are.

nmewn's picture

"Shovel-ready was not as...ummm, errr, uhhh...shovel-ready as we expected."

And everybody in attendance laughed.

Fucking douche.

dlfield's picture

And this is surprising...?

Yen Cross's picture

  If you like your " burger flippers" just get ready for the robots.

  Nice BEAR flag, on equities/ futures.

deerhunter's picture

I went from a 17 year multi city management position at 115 K a year at the tender age of 56. White guy. Paid taxes, tolls, etc etc. my whole life. Down sized in 2009z. I made about 38 K last year. It's what I made last in 1989. I think I would have contributed to these fun facts and figures with that kind of performance. Oh and have had no health insurance since 2009 either and have spent about 30 K I can ill afford due to a hit and run crash that left me unconscious in my car. Damn, I feel better knowing I figured somewhere in the economy. Good night to all .

DaBard51's picture

Finance article; about time, it seems...

 

 

 

 

When nine hundred years old you become, look this good you will not.

Resistance Is Hope's picture

You can almost exactly correlate the loss of income to the loss of manly Christianity (yes, this once did exist in America). Once a nation takes its eyes off of fighting for transcendent and eternal values, and, instead, focuses its sight on acquiring money and temporary pleasures, it is already dead.

Of course, the millions of lower-IQ (the Hispanic average is around 75-80, unlike the white & Asian average of 103 and 105, respectively) illegal invaders don't help much either. http://humanbiologicaldiversity.com/

francis scott falseflag's picture

 

With respect, the income growth under Obama is irrelevant.

 

It is about Hillary's loss which is responsible for the inability of the would-be William Randolph Hearsts to

START A WAR WITH RUSSiA AS HEARST STARTED A WAR WITH SPAIN      

besnook's picture

one thing that doesn't make sense is that it has been clear to me for 15 years that  personal income growth had stagnated with the internet bubble popping all the good money chipheads were making in the 90s. it got a lot worse after the crash in2008. personal income drives the usa economy. falling personal income will be reflected in the overall economy. fed economists must know what i surmised from the limited data i have availible to me. this must be by design or the fed is full of really stupid economists.

the funny thing is both options are equally believable.

Falling Down's picture

The Kenyan is the gift that keeps on giving.

ajkreider's picture

Real personal disposable income is at an all time high.  Yawn.

 

https://fred.stlouisfed.org/series/DSPIC96

Opinionsareus's picture

Of course, the Bush recession wouldn't have had anything to do with this, would it? Or, Ronald "Alzeimer brain" Reagan's gutting if unions, either, right? Get real.

JailBanksters's picture

Look at it this way, you pay less Tax !

toncuz's picture

Obama had THIRTY years of GOP trickle-down to contend with. Don't forget...conservatives have controlled Congress as majority for 23 years STRAIGHT. Even when the Dems had their four years out of the last 23...their conservative wing voted with the GOP and gave Congress a 65% conservative Congress for the last 23 years. 

Wages went up for the first time in years under Obama...funny how this alt-right site never mentions that. 

StreetObserver's picture

Not when adjusted for inflation they didn't. Real inflation, you know, counting food, medical care, rent...stuff that the govenment statisticians have ignored and tweaked away.

One thing's for sure, personal consumption in this country goes way up starting tomorrw, Wednesday.