Our consumer culture continues to rage despite rising prices.
In the aggregate, Commerce Department indexes that the Fed relies on for inflation signals showed prices continuing to climb at a rate still considerably higher than the central bank’s 2% annual goal, according to separate reports this week.
Within that picture came several salient points: An abundance of money still sloshing through the financial system is giving consumers lasting buying power. In fact, shoppers are spending more than they’re taking in, a situation neither sustainable nor disinflationary. Finally, consumers are dipping into savings to fund those purchases, creating a precarious scenario, if not now then down the road.
The citizens are just following the example given by Federal, State, and Local government leaders.
Slow Joe is disappointed that you don’t understand how wonderful his economy is doing. And he would appreciate it if you’d stop resisting such success. Show a little gratitude, eh.
>The citizens are just following the example given by Federal, State, and Local government leaders.
The only difference is that when the debt brings about the downfall of the US as we know it, the politicians and their not in debt super-wealthy friends will be living in luxurious homes in other countries, while all the debt will destroy the entire upper middle class and below.