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WTF US Economy???

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posted on Aug, 14 2011 @ 02:43 AM
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My take on this is that it is related to how deeply the 2008 depression cut into people. Consumer spending fell off a cliff and people were buying everything they could find at dollar and thrift stores to save a buck. They cut as deeply into their spending as they could for as long as they could. The past year or so, I simply don't think there's any way that people who went into spendthrift mode on 2008 can cut any deeper. Also, and this is likely a VERY large component of this, gasoline is counted in "Retail Spending" these days. I noticed that while reading an article about how consumer spending went up in July last week. I don't recall when they started counting that in retail spending, but I distinctly do not remember it being counted as such before. Thus, as gas prices skyrocket, consumer confidence declines, but retail spending goes up (most people can only cut so much from their gas consumption) which leads to the disconnect.

It is very much akin to the whole "discouraged workers" suddenly not being counted among the unemployed shenangians Clinton signed into law back in the 90s. The longer a recession hoes on, the more workers expire their uneployment, and the better the unemployment rate starts to look... it's a big shell game.




posted on Aug, 15 2011 @ 07:34 AM
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Interesting the job creation has been downgraded because the economic growth wasn't there, this was in the news this morning on CNBC.


I guess the data is even worst that we think.



posted on Aug, 15 2011 @ 08:13 AM
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reply to post by silent thunder
 





The trend seems to have gone hyperbolic since '08. There is a feeling that nobody checks anything anyway so who cares, make it up...and according to game theory, who should care? If everyone accepts the rosy consensual hallucination then the emperor certainly is clothed. Until he isn't, of course.


Since 2008 only? This trend has gone on for MUCH longer...how do you think we ended up in Iraq in the first place? Because people don't bother checking facts anymore. Take Glenn Beck for example. That muppet lied so many times, it's amost comical...yet he told his viewers to "check the facts", when he well knew that every single one of his viewers is too lazy for that!



 
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