Consumer Spending Better than Expected (user search)
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  Consumer Spending Better than Expected (search mode)
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Author Topic: Consumer Spending Better than Expected  (Read 2487 times)
cinyc
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« on: March 06, 2009, 04:36:16 PM »
Quote from: Just The Facts, Man! on March 06, 2009, 04:30:34 PM
Leave it to Americans to keep spending even under such terrible financial circumstances.

Some of this increase likely had to do with yearly COLA increases for Social Security beneficiaries.  Credit card use was pretty flat in the 3Q last year (at least according to Visa) - and the January rise reported in this article isn't all that much.  Debit card use was way up.

There's nothing wrong with consumers spending within their means, by the way.
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cinyc
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« Reply #1 on: March 06, 2009, 05:06:26 PM »
Quote from: opebo on March 06, 2009, 04:56:11 PM
Quote from: cinyc on March 06, 2009, 04:36:16 PM
There's nothing wrong with consumers spending within their means, by the way.

Um.. yes there is - it causes a depression.  We need to increase the means.

But this increase was just depression related - people buying tents for their new life under the bridges, and of course guns.

Rewarding recklessness is a terrible long-term economic strategy.
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