Posted on 06/19/2022 6:45:22 AM PDT by devane617
More Americans are beginning to hold off on booking flights, getting haircuts, building backyard pools and replacing old leaky roofs — in some of the new signs that the consumer engine of U.S. economic growth could be losing steam.
Over the past several weeks, households had already cut back on big-ticket purchases because of soaring prices, but in a worrisome twist, data suggests consumers are also beginning to tap the brakes on dining out, vacation plans and even routine services like manicures, hair cuts and home-cleaning appointments. Business owners around the country say rising prices, dwindling savings and concerns of a souring economy are taking a toll on household spending decisions.
At Olentangy Maids in Columbus, Ohio, more customers are putting off or canceling home-cleaning appointments. Some regulars are trying to negotiate lower prices, while others have stopped tipping altogether, co-owner Keith Troyer said.
(Excerpt) Read more at washingtonpost.com ...
Death spiral
Personally, I haven’t had a haircut in about a year. I’ve been cutting my own hair for about 35 years. I can’t afford to pay myself. But it maybe that I watch Steve Bannon everyday. You know, he’s a fashion trend setter.
Things are all good tho right, BidenIdiot backing WaPo? /s
I noticed the same and commented earlier this AM. Another Freeper noticed the same thing too today. If this is so and the dc fishwrap is noting it also, look out below in the market. The reverse Midas touch of The Bidet does it again.
“Americans are starting to pull back on travel and restaurants”
It was fun...while it lasted.
I remember reading a piece by a black dude who talked about the all the picnics he went to growing up. He later figured out that it was because blacks weren’t welcome at restaurants during segregation (and most likely black families couldn’t afford to eat out anyway).
Sounds like part of the Great Reset will be going back to those days...
When the government perversely uses its power to hinder fossil fuel production and makes all energy more expensive, the economy contracts. Combine that with the printing of dollars and inflation soars. Only solution is to rid the country of Biden and the Democratic Party.
Sounds like part of the Great Reset will be going back to those days...
We are too used to convenience.
I hardly ever buy fast food , the people that work there are mostly foreigners and very hard to understand
During periods of inflation average folks quickly figure out that durable goods have lasting value while services keep going up in price with no lasting value.
It looks like we are looking at several years of inflation (minimum) so the service sector is going to feel the heat.
The article correctly points out that everyone changes their spending behavior—even the wealthy don’t want to waste their money on services when they can be buying goods instead.
Was telling wife the other day one of our greatest liberties of this country is freedom of travel and mode of travel. This freedom of jumping in the car and going somewhere will come to a screeching halt in the not to distant future. This is the end game they are trying to achieve. This is especially true for rural citizens. No gas and limited EV trips with uncertainty for recharging and not knowing if you can get back home. Then what happens, they have even greater control over you.
Living in a small town we don’t have a lot of choices to begin with. We are more careful with what we cook to make sure we use up all the leftovers and we’ve cut down on our trips to “the big city” of Terre Haute🤣🤣
“In the old days we used to buy frozen and mix ourselves.”
I remember too, specifically trying to thaw one in my oven when I was 8 years old or something. Set my oven too high.
“This is especially true for rural citizens. No gas and limited EV trips with uncertainty for recharging and not knowing if you can get back home.”
And beyond that, the neat thing with EVs (and the Great Reset) is that the government can simply disable your app, and NO CHARGING!!! And they can just do it to tease people.
Compare that to today where if you have cash, no one will stop you from filling up (unless a warrant is out on you).
Skid row Joe making sure all the middle class stays on it you will have nothing and like it.
Airlines are cancelling thousands of flights. They think we’ll go along with the pretense that it’s weather The weather is unprecedented. No sale.
Stolen elections have catastrophic consequences.
I called this folks. This is going to create a circling the drain effect. Everybody is focusing on basic necessities and such.
“some of the new signs that the consumer engine of U.S. economic growth could be losing steam.”
A clue for the clueless.
“””households had already cut back on big-ticket purchases because of soaring prices, but in a worrisome twist, data suggests consumers are also beginning to tap the brakes on dining out, vacation plans and even routine services like manicures, hair cuts and home-cleaning appointments. Business owners around the country say rising prices”””
No surprises here. When the cost of the basic necessities (food, housing, transportation) skyrocket, the only alternative for most people is to cut back on non-essential goods and services.
And the businesses selling non-essential goods and services will be hurt the most. These businesses are seeing their cost of heating or cooling their building increase while at the same time their sales are decreasing.
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