I’d sure like to know who the heck is doing all the spending besides the government and the leeches, cause it sure as hell ain’t me!
Not me and my family. We are going Galt.
I guess all that “Obama money” has been spent...
It’s called “Income tax refund” you dolts. People are buying things they have done without for a year now. Once that is gone, it will go right back down.
Hey...why not spend it? The dollar ain’t gonna be worth jack before much longer. Best to get convert them now to real, tangible assets like food, water, ammo and clothes.
Before the 2008 economic collapse I used to tell my wife that if everyone spent their money like we do it would be a very different economy. Since September of ‘08 it has been an economy where the prudent and thrifty have suffered less than the ‘aspirational’ consumer...indeed. if one was in the position to do so, there have been some remarkable opportunities. That said, we all hope for new leadership in November and the chance to build a more balanced and free economy.
Sometimes I wonder if FR and keeping up with the news in other media outlets is good or bad. I guess it just had its advantages and disadvantages.
In other words, “Thank you sir, may I have another”?
I don’t believe any #’s released by the government anymore.
Without seeing the underlying data and knowing what smoothing or other massaging was utilized, I would say there appears to be an inflection point of recent, which means spending is leveling off or increasing at a slower rate than previously.
But this graph shows clearly one other positive aspect related to the FairTax:
and that is that personal consumption is robust in recessions, even deep ones. To see this, compare the chart above with a chart of personal income and you will see income fall off a cliff whereas consumption forges ahead....
....because people will always buy ‘a level of something’.
This point demonstrates that tax revenues based on retail consumption would see less volatility than tax revenue based on incomes, that governments would not be in such trouble as they are now. For example, California is stuck with a public sector workforce that grew during the boom years of high and increasing incomes and now they are nearly bankrupt.
I would wager that a dig into the data details of the chart above that it would reveal that consumers put off purchases of big ticket items.
It is called denial. Many refuse to accept the “new” America. They are under the illusion that if they spend what little they have (Biden claims you can SPEND ypur way out of debt), somehow America will return to the days before Dums took control.
Boy are they in for a surprise.
I will give the Zero admin and the Dummie congress credit. Putting off the HCR tidal wave for 5 years may well lull people into a sense of safety.
The only way to survive is to save money and get out of debt.
Well, I’d sure as hell like to see a bit of consumer spending. I’ve spent a pile of dollars moving my business from the friggin’ a$$hole state of communist Michigan to SC. I’m seeing so much red that I’m thinking I live on Mars.
Then FR is infested with crazy Ron Paul/John Galt gasping guppies, telling everyone not to spend. Screw you and the horse you rode in on. Basturds.
I’ve got bills to pay. You want to live in a cave and cook pinto beans, be my guest, muchochu, or however the hell you spell comrade in Mexican communist lingo.