They are running up their credit cards and depleting their savings because everything is so fucking fantastic. Just buy stocks and bitcoin, while ignoring the signs. What’s the worst that can happen?
The US consumer in one chart: credit card debt record high, personal savings rate record low pic.twitter.com/9julvoPQHb
— zerohedge (@zerohedge) May 7, 2024
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My observation, the govt helicoptered money for 18 months, 12 months later people saving less than before Covid. Inflation post Covid is not temporary, crushing at least 75% of the public.
Biden’s & FEDs economy statements are BS.
But… but… that would mean that they’re lying?
Ha haha! It looks like that graph just shit its pants…and just kept walkin’.
What the worst that can happen? You ever seen Road Warrior? (Of course you have).
More like the Soviet Union collapse than road warrior.
If you were someone that thinks you are living in the end times or believes that the future is just going to get worse and worse, would you save for later or spend and enjoy now?
” Eat, drink and be merry, for tomorrow we die”
I eat well. Healthy. I don’t spend frivolously. No reason to own a Mercedes. I also do my utmost to be appreciative for the gifts of today and yesterday while keeping my vision and hopes planted on the future.
Do this don’t do that can’t you read the sign?
Isn’t it amazing what a tyrannical Corpo-Fascist installed Govt can do to illegally enrich themselves when there is no media watchdog to say WTF are you doing? Like printing Trillions of monopoly money out of thin air, paid largely by future taxpayers, to buy the stock market? This keeps Corp America on Plantation Tyranny. They know they can do this because even tho you KNOW food has doubled in just over 2 years they lie with impunity and say inflation is only 3%, economically impossible by any measure whether those trilions go into stocks, bonds, consumer credit or Corp loans. But who is going to investigate? The Media? Republicans? SEC? LOL. We need to raid the house that Obama built before we can’t afford anything. That house is the now GOVT owned 4th estate, the FED and of course Washington DC. Or die trying for our future or our kids.
Food price hasn’t doubled in 2 years. Feed, goyslop, perhaps.
Karl Denninger just wrote about this based on recent personal experience….
Breathe Deep…..the gathering gloom.
Plenty of people — including obviously the stock market and its commentators — believe everything will be ok.
Deficits don’t matter.
The government cannot go broke.
There will never be a loss of confidence.
I travel quite a bit. Like most people I have my habits — places I like, things I go to do and if I enjoy them I’ll go back and do them again. This means I see patterns and, unlike many, I tend to notice them immediately. Perhaps its a blessing — or perhaps a curse…
I just got back after one such trip;…I was stunned at the deterioration I saw in consumer behavior from just a month or so ago on my prior trip, and gob-smacked at the change over three months or so back when Sarah and I were out at Wolf Creek…
But what else was shocking? A roughly 40% total price increase over a couple of years ago and of that 10+% that just got tacked on with all the menus having just been reprinted in the last couple of weeks. It appears that last grab for cash finally hit people’s pain points and they stopped showing up.
http://market-ticker.org/akcs-www?post=251265
Hmmmm…..,no Tuesday Tunes,well,this will have to do!
Tesla is awesome, good pick
murika…
It’s treading water and trying not to get sunk. I am still convinced most this inflation is predatory and not monetary.
A serious economic depression is the best thing that could happen to the USA. Americans are in dire need of a kick in their collective asses to get them to wake up to reality.