Skip to comments.HOWARD DAVIDOWITZ: Consumers Are In TERRIBLE Shape...And It's Going To Get Worse!
Posted on 12/20/2011 7:31:53 PM PST by george76
In his own inimitable style, Davidowitz explains why the consumer is in "terrible shape" and why "it's going to get worse," citing the following:
Crushing Debt Load: Consumer debt is 117% of disposable income.
Help Not Wanted: Even November's "strong" report included more people dropping out of the labor pool (315,000) vs. those who found work (278,000), according to the Labor Department's household survey.
Reverse Wealth Effect: Household net worth fell 4% in the third quarter, a drop of $2.4 trillion, according to the Fed. That's the biggest drop since 2008 and would be hard to overcome even if wages were rising sharply, which they're most certainly not.
Housing Bust Rolls On:
(Excerpt) Read more at businessinsider.com ...
Oh never mind. Just a hysterical nobody from the bi-blog.
They can thank themselves. They elected these Democrat politicians.
Yeah but it allows the editors to use lots of capital letters and exclamation points!
With gasoline at $3.50, diesel at $3.70 and propane at $3.25 there isn’t any money left for “consuming”.
“With gasoline at $3.50, diesel at $3.70 and propane at $3.25 there isnt any money left for consuming.
Bingo, I will even go as far to say that the housing crisis would not have been nearly as severe as it was (is).
With gas that high, food followed.
Any relation to David Horowitz?
You’re right. At first glance I thought the article was by David Horowitz.
Oh sure, it's all just hysterics. Everyone is actually doing very well in America today. Economy is on fire!
Have you thought about working for the Obama campaign? Bet they could use you!
You got that backwards. Gas was at $4.50, headed for $5 it seemed, just last summer. Remember? It fell to $3.50 ( sagging to $3.359, at my Chicagoland station, and $3.259 in the next town for the same brand ) ... for what reason? Sagging demand, I say, because consumers are strapped for cash because of dwindling income.
This is just not true...... I heard the President say, on MSNBC that...... oh, never mind.
Wow you’re about as bright as a bi-blog writer.
Gas is 3.07 today.
Oh, there are problems aplenty to be sure, much like in 1979. I just have nothing but disdain for hysterics such as the bi-blog dishes out. It’s a poor substitute for actual analysis.
Oh! jeese its ok... every things fine.. the riots have not even started yet..
Surely that's 3.079 . It always amazes me how well that "9" thing works, and on me too, of course. But can't we at least get it straight? Unless you rounded 3.069 up to 3.07, which if you did, hats off to you!
If I’d said .069 there would have been snickering. :)
Uh no Larry, the problems we have today, at every level, make 1979 seem a walk in the park on a sunny spring day. Like I said, you should be working for Obama. He's going to need all the happy talk he can get, in an attempt to minimize this flipping disaster.