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Posts Tagged ‘Consumer Spending’

The Obama Boom continues!

by Phantom Ace ( 60 Comments › )
Filed under Barack Obama, Business, Economy, Progressives, Socialism at September 30th, 2011 - 11:30 am

The greatest economic comeback since the times of the Roman Emperor, Justinian, continues. Despite the hype from the media, it is clear the economy is just treading water. Personal income dropped and spending has slowed because of it. The average American is becoming poorer as a result of this anemic economic growth. The American dream is withering on a vine and the media acts as if things are not that bad.

U.S. incomes fell for the first time in nearly two years in August and consumers dug into their savings to keep spending, according to a government report that showed the impact of the weak jobs market.

The Commerce Department said on Friday spending rose 0.2 percent, in line with economists’ expectations, after increasing 0.7 percent in July. When adjusted for inflation , however, spending was unchanged after rising 0.4 percent in July.

Consumer spending accounts for about 70 percent of U.S. economic activity.

Income slipped 0.1 percent, the first decline since October 2009, with private wages and salaries dropping $12.2 billion after increasing $23.8 billion in July.

Economists had expected income to edge up 0.1 percent.

Read the rest: Prices Rising, But Spending Slows as Income Posts Drop

The Obama Boom continues to roar!

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Posted in Barack Obama, Business, Economy, Progressives, Socialism | 60 Comments »

The Obama Boom: Another unexpected drop in Consumer Spending

by Phantom Ace ( 3 Comments › )
Filed under Economy, Headlines, unemployment at August 2nd, 2011 - 1:03 pm

The media still has not abandoned the Obama Myth. They still are expecting this miraculous 2nd half rebound. When bad datacomes in, they call it unexpected. Well once again reality intruded on their little dram world. Personal spending was down .02% in June.

U.S. consumer spending dropped in June for the first time in nearly two years as incomes barely rose, suggesting economic growth could remain subdued in the third quarter.

The Commerce Department said on Tuesday consumer spending slipped 0.2 percent, the first drop since September 2009, after edging up 0.1 percent in May.

Economists had expected spending, which accounts for about 70 percent of U.S. economic activity, to rise 0.2 percent.

When adjusted for inflation, spending was flat in June after easing 0.1 percent the prior month.

“The growth potential for the economy has slowed significantly,” said Yelena Shulyatyeva, a U.S. economist at BNP Paribas in New York.

The media needs to give up on the Obama Boom lie. No one believes it and most people know that this is the Obama Depression!

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Posted in Economy, Headlines, unemployment | 3 Comments »

The Obama Boom: Inflation pushes up Consumer Spending

by Phantom Ace ( 2 Comments › )
Filed under Headlines at March 28th, 2011 - 8:56 pm

Anyone who’s gone to the supermarket and the gas station knows that inflation is up. Wages are stagnant and this our real disposable incomes are going down. Ben Bernanke did QE2 to create inflation and get out of a deflationary cycle we were falling into. The problem is that by fueling inflation, he might knock the country back into recession and destroy people’s savings. Last month, inflation cut into consumer spending. In fact, people had to dip in their savings.

U.S. consumer spending rose for an eighth straight month in February as households tapped savings to cover higher food and energy prices.

Spending rose 0.7 percent in February after a 0.3 percent increase in January, and inflation accelerated at its fastest pace since June 2009, the Commerce Department said on Monday.

Adjusted for inflation, spending was up a far smaller 0.3 percent last month after being flat the prior month.

“The data provide yet more evidence that higher prices are denting economic growth,” said Paul Dales, a senior U.S. economist at Capital Economics in Toronto.

The increasing costs is putting a damper on people’s spending. As prices rise and wages don’t go up our living standards decline.

This is the Obama Boom!

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Posted in Headlines | 2 Comments »