Consumer spending up mainly because of sharp price increases
Thursday May 1, 5:57 PM EDT
WASHINGTON (AP) — Don't be fooled by a larger-than-expected increase in consumer spending. People aren't buying more — they're just paying more for what they buy.
That is raising doubts about whether the 130 million stimulus payments the government began sending out this week will be enough to lift consumers' sagging spirits.
The Commerce Department reported Thursday that consumer spending was up 0.4 percent, double the increase economists had forecast. However, once inflation was removed, spending edged up a much slower 0.1 percent.
http://finance.myway.com/jsp/nw/nwdt...&date=20080501
LOL, the parking lot is full syndrome . I love it
It takes time for people to adjust. Credit spending is such a habit that it will go on for a while in spite of prices. But, starting with those with little to no credit, people will start examining their purchases more closely and start cutting back. The trend will work it way up to the middle class as they find themselves topping out their credit on higher prices.
That is why I feel sorry for the next president. The current economic conditions will cause a long domino effect that will extend the length of snail pace growth which will then slide into negative growth. The whole situation, due to being dependent on a credit economy, has the potential of making a llloooonnnnnggggg slide before real recovery is possible. And the next president will take the blame, as current (meaning "current" two or three years from now) administrations always do.
Yerah this is gonna take a while.
this will help those on the right reduce their stress.
http://hytaipan.home.comcast.net/~hy...serenity2.html
usged, your retarded
spending is not collapsing as you tools hoped for.
funny, unemployment fell, down to 5%.
Excellence is an art won by training and habituation. We do not act rightly because we have virtue or excellence, but rather we have those because we have acted rightly. We are what we repeatedly do. Excellence, then, is not an act but a habit.
- -- Aristotle
Believe nothing on the faith of traditions, even though they have been held in honor for many generations and in diverse places. Do not believe a thing because many people speak of it. Do not believe on the faith of the sages of the past. Do not believe what you yourself have imagined, persuading yourself that a God inspires you. Believe nothing on the sole authority of your masters and priests. After examination, believe what you yourself have tested and found to be reasonable, and conform your conduct thereto.
- -- The Buddha
It is the mark of an educated mind to be able to entertain a thought without accepting it.
- -- Aristotle
I will twist a quote. Unemployment does not matter, Regean proved that.
Reagan was as smart as u r uneducated.
Quote from Cypress:
"Scientists don't use "averages". Maybe armchair supertools on message boards ascribe some meaning to "averages" between two random data points. And maybe clueless amatuers "draw a straight line" through two random end data points to define a "trend". Experts don't.
They use mean annual and five year means in trend analysis. Don't tell me I have to explain the difference to you. "
burn
Consumer spending up because I've been drinking more.
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