Despite Getting Whacked by Bank Turmoil, Layoff News, Credit Crunch, High Interest Rates, and Inflation, our Drunken Sailors Spent Even More, Even Adjusted for Inflation
Guest Post from Wolf Richter at WolfStreet.com: Where does the money come from? They now out-earn inflation, they earn interest income, and they dipped into their assets whose prices ballooned over the years. Consumer spending, adjusted for inflation and for seasonal factors jumped by 0.5% in April from March, after two months of declines and …