SIGforum
Personal Consumption "Unexpectedly" Collapses In Latest GDP Revision
September 28, 2023, 01:12 PM
ensigmaticPersonal Consumption "Unexpectedly" Collapses In Latest GDP Revision
quote:
Originally posted by 1s1k:
The stats show that people just started putting more on their credit cards than ever before. Eventually that will come to a head as well.
That's no exaggeration:
2023 Credit Card Debt Statisticsquote:
With this latest increase, credit card balances have risen by $175 billion since the fourth quarter of 2021. Americans’ credit card debt is $104 billion higher than the record set in the fourth quarter of 2019, when balances stood at $927 billion. However, thanks to still-rising interest rates, stubborn inflation and myriad other economic factors, credit card balances are likely only going to climb, at least in the near future.
"America is at that awkward stage. It's too late to work within the system,,,, but too early to shoot the bastards." -- Claire Wolfe
"If we let things terrify us, life will not be worth living." -- Seneca the Younger, Roman Stoic philosopher September 28, 2023, 07:44 PM
Rey HRH"Consumption unexpectedly collapses."
This reminds me of what the Vice President says in his meeting with Area Presidents and their explanation for missing the forecast was "holidays." He would say, "Was there no holidays last year?" The answer is obvious as they shouldn't have been surprised and a known factor should have been accounted for.
In the same say, with inflation taking prices up and wages staying the same, people are going to have to cut down to stay at the same spending level.
"It did not really matter what we expected from life, but rather what life expected from us. We needed to stop asking about the meaning of life, and instead to think of ourselves as those who were being questioned by life – daily and hourly. Our answer must consist not in talk and meditation, but in right action and in right conduct. Life ultimately means taking the responsibility to find the right answer to its problems and to fulfill the tasks which it constantly sets for each individual." Viktor Frankl, Man's Search for Meaning, 1946.
September 28, 2023, 08:32 PM
Prefontainequote:
Originally posted by apprentice:
Wish I could say it was less busy here, but I think our population in general has doubled in the last year or two.
That isn't hyperbole either. Everyone I know is complaining about the traffic now, and every other car has an out of state plate.
You must be my neighbor. Same/same, everything you said. H1B Visas everywhere. Californians and now it’s all sorts of out of state plates. Can’t wait to get the fuck out.
OP, cutting back in some areas, yes. But if the house needs something I’m not skipping Home Depot.
What am I doing? I'm talking to an empty telephone
September 29, 2023, 06:28 PM
apprenticequote:
Originally posted by Prefontaine:
quote:
Originally posted by apprentice:
Wish I could say it was less busy here, but I think our population in general has doubled in the last year or two.
That isn't hyperbole either. Everyone I know is complaining about the traffic now, and every other car has an out of state plate.
You must be my neighbor. Same/same, everything you said. H1B Visas everywhere. Californians and now it’s all sorts of out of state plates. Can’t wait to get the fuck out.
OP, cutting back in some areas, yes. But if the house needs something I’m not skipping Home Depot.
If it never snows where you are, then I wish we were neighbors.
September 30, 2023, 05:32 AM
jed7s9bI don’t “shop” except early morning so I really can’t say if crowds are down. I do see and hear way too many foreigners, most of which are probably illegals. The roads are packed all day long so everyone is certainly buying gas. I do suspect retail is slumping since they already have “Holiday” decorations out. (God forbid they call it Christmas or have any sort of religious reference on any of it.) I’m also getting a bit more email traffic from places I’ve done business with in the past.
“That’s what.” - She
September 30, 2023, 07:28 AM
gjgalliganQuote:A friend of mine moved to Montana last year because he couldn't stand it anymore.
And that just adds to Montana's problem of too many people moving in......
Integrity is doing the right thing, even when nobody is looking.
September 30, 2023, 07:43 AM
slosigquote:
Originally posted by xanth:
How true this is. Any trip to CDA is a day long journey it seems, doesn't matter what time of day, so much traffic.
That’s a shame. Before the plandemic we used to visit Mrs slosig’s cousins in CdA every two or three years. I really liked that area and hoped to escape there. Sigh, the son is going to school in Montana and it’s pretty nice too, but man is it growing.