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Posted by: Turner78x 9 months, 1 week ago
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Turner78x9 months, 1 week ago
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I would like to know how in the world we are suppose to believe that consumer spending is up when income and jobs are down? Who the hell is spending and on what? Is this another Corporate media ploy to get us to believe this is true so that those of us who are still fortunate enough to have a salary go and spend it? Maybe I'm being too cynical, maybe there are intricacies of the economy I don't about, or maybe this is just another outright lie from controllubg interest that 'need' us to spend.
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Beau78909 months, 1 week ago
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The numbers are from the Commerce Dept. I don't know how they're collected, but it's hard to imagine private corporations all inflating figures reported.
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However, the article also says this:
After dropping steadily throughout the second half of last year, with a particularly steep pullback in the final months of 2008, spending rose in January and February.
To economists, that suggests that after cutting back to bare-bones levels of spending at the end of last year, consumers don't have much further to cut. But they still appear disinclined to buy big-ticket items such as furniture, appliances and automobiles; consumption of durable goods fell 1.3 percent last month.
People still have to buy some things.
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