Hey, anyone who voted for him, don’t complain. Suck it up. This is on you
We never were the same after last summer.
Stubbornly high inflation rates in recent months and several interest-rate hikes by the Federal Reserve are impacting consumer behavior. That’s according to company earnings reports, market-data analytics and consumer surveys.
Sales at retailers fell flat in September, the government said Friday, another sign that the economy is likely to slow in the coming months as consumers pull back on spending in the face of 40-year high inflation and the end of pandemic-era government stimulus programs. (snip)
Rattled by the rise in the cost of living in recent months, millions of people have already been taking action to conserve their cash, according to a recent McKinsey & Co. report that explored the ways people are trading down.
“Whether it’s at gas pumps or in grocery stores, people across the United States have been feeling a pinch in their pocketbooks this summer,” it said. “Inflation is the highest it’s been in decades, and consumers are worried and jittery.”
With inflation at a 40-year high, McKinsey said, “The mood has turned darker. Thirty percent of our respondents say they are feeling pessimistic, and that we may be headed toward one of the worst recessions we’ve ever seen.”
Recession, or depression? Of course, Joe might talk us into a nuclear war, so, there’s that
Three-quarters of consumers said they were engaging in some sort of deal-seeking, and 60% were adjusting the quantities they were buying. That means either opting for large amounts at lower unit prices or smaller amounts.
But, not the elites like Joe
44% of people told McKinsey they were delaying purchases of nonessential items. Lower-income shoppers tended to single out certain groceries, home improvement, footwear and apparel as purchases to pause.
The price of many non-essential items and goods has been dropping, because people aren’t buying. Now, they’re buying less. But, fortunately, the Inflation Reduction Act will give us a slight break on $20k solar panels.
You mean that people are responding to economic incentives?
I have been assured by Top. Men. that this isn’t so (when liberals want higher income taxes), and also, by the same parties, that it is (when the subject is sin taxes).
When your dollar doesn’t go as far as it did when Donald Trump was President, yeah, you have to cut back.
The American consumer is poorer today than he was a few years ago, but, of course, Joe Biden isn’t responsible for that at all, not at all.
You should stop blaming Joe Biden. That guy isn’t responsible for tying his own shoes. The harm you credit to him is brought to you by the entire democratic party and would have been brought to you the same level no matter who the Dems ran to sit in the oval office. The Dems figured out a log time ago that the office holder isn’t the real power. The people who write the checks are. As long as the money train keeps rolling along, they really can run a demented old pedophile with a decades long history of corruption, incompetence, and dishonesty as the leader of their party and he can still get elected. One has to ask, is the Democratic party really that empty on their bench? What happened to James Webb? Why not run one of those Generals who wrote articles for the Atlantic about how evil Trump was. Surely any one of them has the bearing to fill the empty suit they need.
Sadly I know people who were unfortunate enough to be transferred with their military gig from one state to another in the middle of this economic chaos.
They sold their existing home for a handsome profit and were all grins and giggles. I told them that sadly they will not be grinning at the next assignment when they go house shopping.
They reported diligently that they had to pay double for half the house and their interest rate was 5.00 percent vs. 2.75 percent.
Their payment went from 1600-2700 per month even after putting 100k dollars down on the new house.
Sad times ahead for Americans and inflation usually last a decade and a slow economy nearly as long as the nation recovers from HIGH-interest rates which is always the go-to remedy for curing inflation.
In this case, I have said before. If you do not fix the supply side issue, and pass laws to bring jobs and companies back home to build back better in the USA, then you are fubar for a long, long time.
Of course, we know the plan of the AGW DEMOCRATS is to destroy America’s economy because either they truly believe we are all going to die or they are lackeys for CHINA who is the one pushing this narrative in paper after paper being written by XHIAO Su LINGCHOMPER.
Build Back Better!
Little did we know he first intended to lower the bar so that building back better would be easier.
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