The Atlantic: “Inflation Is Your Fault”

Sharing is Caring!

by TonyLiberty

Talk about it to death without ever giving a solution, or having the power to actually carry out the solution, finally blame the reader.  Next crisis comes along.

Also media is owned by 1 company. Monopoly isn’t quite the right word for it. Megastructure seems more appropriate here.

via theatlantic:

You would think, with prices as high as they are, that Americans would have tempered their enthusiasm for shopping of late; that they would have pulled back spending on luxury items; that they would have sought out budget and basic options, bought smaller packages, fewer things.

This is not what has happened. Consumer spending rose 0.2 percent, after accounting for higher prices, in October, the most recent month for which the government has data. Online shopping jumped 7.8 percent over the Thanksgiving long weekend, more than analysts had anticipated. The sales of new cars, dishwashers, cruise vacations, jewelry—all things people tend to give up when they are watching their budget—remain strong. Consultants keep anticipating a recession precipitated by the “death of the consumer.” Thus far, the consumer is staying alive.

See also  China confronts an economic crisis with sharp inflation decline
See also  Americans Accumulate Record Credit Card Debt Amidst Inflation and High Interest Rates, Concerns Rise Over Banking Stability.

h/t dr0id


Views: 185

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.