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U.S. Income Gains 'Eroded By Inflation' In March

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posted on May, 1 2008 @ 10:54 AM
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U.S. Income Gains 'Eroded By Inflation' In March


www.marketwatch.com

WASHINGTON (MarketWatch) -- Higher prices took away all the income gains U.S. households received in March, the Commerce Department estimated Thursday.
Consumer prices rose 0.3% during the month, matching the 0.3% rise in incomes that was expected by economists surveyed by MarketWatch. See Economic Calendar.
Real disposable incomes were unchanged in March after accounting for taxes and inflation.
(visit the link for the full news article)




posted on May, 1 2008 @ 10:54 AM
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And get ready for this to worsen---The worthless "bail-out extraordinaire" FED just dropped rates AGAIN yesterday, so inflation is going to CONTINUE to raise the cost of EVERYTHING! At least the economic analysts are no longer riding along the delusional train of Dumbya and the fed that the "surplus checks" are going to "fix things"...As they're aware, most of us will be using those to pay off debt or buy NECESSITIES like FOOD or GAS, which we can no longer afford.

Should be worth about a week of food or gas with the way things are sky-rocketing in price past our incomes.


"The forces that had supported consumption have collapsed," wrote Joe Liro, an economist for Stone & McCarthy Research.
Consumer spending increased 0.4%, or just 0.1% after adjusting for rising prices. Economists expected a 0.3% rise in spending.
"With government rebate checks on their way, we will see a temporary lift to consumer spending in the coming few months," wrote Joshua Shapiro, chief economist for MFR Inc., adding that "it is likely that a significant portion of the rebates will be either saved or used to pare debt."



www.marketwatch.com
(visit the link for the full news article)

[edit on 1-5-2008 by DimensionalDetective]



posted on May, 1 2008 @ 11:17 AM
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DD,

Not to mention, that it doesn't even necessarily take into account those numbers that show growth economically, however, that growth because many US companies are so entrenched overseas, how much of it is due to overseas consumers. That is, if you're looking at the economy from a totality perspective.

I think most people would agree that growth WITHIN the US, and it's CITIZENS is either stale or declined.


Just my $.02 (which is now worth about $.012943308 versus the Euro....$1.00 vs. 1.5452 at time of writing this = (.647165415 /100) * 2)

Sorry couldn't resist lol


Starred and Flagged!


AB1



posted on May, 1 2008 @ 11:36 AM
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I am curious if this even takes into account the increase in fuel and food costs. Like you said, this is only going to get worse.



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