Saturday, August 30, 2008

American Consumer Abandoned by Business, Government

No kidding.

"the consumer is on her own"

"Consumer spending slows as stimulus is spent" by Catherine Rampell, New York Times News Service | August 30, 2008

Consumer spending slowed for the second consecutive month in July and personal income fell as the effect of economic stimulus checks tapered off and inflation lingered, the Commerce Department said yesterday.

I'm so sick of them flogging those god-damn bribes, I mean, checks, as a cure-all!

The MSM shit shovel never ends.

"The temporary impact of the stimulus has passed, and it looks like consumer spending is on track to decline in real terms in the third quarter," said John Ryding, chief economist at RDQ Economics. "It's certainly a wake-up call to people who yesterday looked at the GDP report and said, 'Hey, the economy grew by 3.3 percent, so everything's OK.' "

Oh, you mean like that feel-good shit article the paper ran?

"Looking forward, the consumer is on her own. There's no tax cut, no fiscal stimulus for the remainder of 2008," said Joseph Brusuelas, chief economist at Merk Mutual Funds. "We'll be lucky if when we get into the fourth quarter we get anything positive from the consumer."

Yeah, so the shit economy is YOUR FAULT, consumer!

Never mind the off-shored factories, the rampant illegals, the government looting, and the war profiteering as you lose your home.


Of course, some consumers are not hurting at all: Even the escalator is upscale at Saks

Also see: The Comfortable Class Above It All