Take that look of worry
I'm an ordinary man
They don't tell me nothing
So I find out what I can
--Phil Collins
The 20 year uptrend in US personal spending has been broken from a technical standpoint. This likely reflects a secular (read: long term) trend change in spending behavior.
Given our debt-laden condition, such a condition should be welcome as folks seek to deleverage.
Unfortunately, government officials don't appear to see it that way. Bureaucrats seem determined to offset individual thrift with unprecedented public spending.
Regardless of individual actions to the contrary, government wants to keep us in the poor house.
Subscribe to:
Post Comments (Atom)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
2 comments:
I don't expect that will last long. When I said that they can't make you borrow, but they can make you spend, what I meant was that I anticipate that discretionary spending is about to become a whole lot less discretionary. Mandatory health insurance, carbon taxes, privatized social security, speculator induced oil price increases, etc, etc.
Seems reasonable. Of course, if the metric of interest relates to how much of 'disposable income' is spent, what gets classified as disposable/discretionary could easily be manipulated.
Post a Comment