The gullibility and delusional mindset of the American people cannot be underestimated. Real personal income declined in February, but that didn’t deter Americans from spending at four times the rate of their income. Here is a link to the data.
It seems that Bernanke, Obama and the MSM have successfully convinced a large swath of zombies to spend money they don’t have – AGAIN. Here are the disgusting facts:
- Real disposable personal income dropped by 0.1% in February while real spending went up by 0.5%.
- Disposable personal income went up $18.9 billion, while we spent $86 billion more.
- In the last year, wages are up $291 billion, while expenditures are up $435 billion. Mass delusion and stupidity abound.
- Hysterically, 17.7% of total personal income is really government transfers to the people, every dollar of which is borrowed from the Chinese so it can be spent buying shit from the Chinese.
- Interest income is the lowest it has been since 2000, as it has fallen by $450 billion since 2007. Those senior citizens were just wasting it on food anyway. Jamie Dimon is putting it to much better use.
- The savings rate has now plunged to 3.7% as Americans have been convinced the future is so bright they’ll have to wear shades. Who needs to save when your Wal-Mart job pays so well and your home price is going up by 10% per year?
This country is so fucked, it isn’t even funny.