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No matter how important you think income is, consumption is always more important!
Show of hands: Who thinks this can end well?
January 31, 2014
Consumers spent more than expected last month despite flat incomes
WASHINGTON -- Consumers opened their wallets more than expected last month even though their incomes failed to grow, another indication the economy picked up steam heading into the new year, the Commerce Department said Friday.
Steam power for the win apparently.
Source Data:
St. Louis Fed: Custom Chart
Keep in mind that personal income does not count income tax.
ReplyDeleteI'm sure we can keep the trend alive forever.
All we need to do is gradually reduce the income tax until it eventually becomes an income subsidy! Woohoo!
The more you earn in income, the bigger the subsidy!
Eventually, and hear me out on this because it is a radical new theory, every single person in the United States can become too big to fail!
Damn. I just broke my sarcasm meter.
I don't enjoy spending money. Am I unusual?
ReplyDeleteWe have a relatively rare genetic disease known as frugalitisis. Although incurable, it is not highly contagious! ;)
ReplyDeleteI must confess that going on holiday loosens the purse-strings. You only have to look at the collection of exotic boozes that sits in our understairs cupboard.
ReplyDeletedearieme,
ReplyDeleteFrank Sinatra-Come Fly With Me
If you can use some exotic booze, there's a bar in far Bombay.
Just need to get through enhanced airport security first (including a full body scan or two and a strip search perhaps, lol).
Ah, romance. And freedom! And security! It brings a tear to my eye. Seriously. I think my eye is torn. Took an elbow to the face trying to avoid the tear gas dispersed for my own protection, lol. Sigh.
Gallows humor.