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1) Initially 2) Absolutely 3) False. Consumer spending on non durable goods is still rising. Disposable income is still available. Durable goods spending explo

1) Initially 2) Absolutely 3) False. Consumer spending on non durable goods is still rising. Disposable income is still available. Durable goods spending exploded after COVID. https://wolfstreet.com/2024/08/30/our-drunken-sailors-are-at-it-again-not-at-all-in-the-mood-for-a-slowdown-or-a-recession/ https://wolfstreet.com/2024/08/30/our-drunken-sailors-are-at...

amock 2y ago
Just because spending is rising doesn't mean people are buying more things. Prices have increased, so people can be buying fewer goods and still spending more.
- astrange 2y ago
  Spending on food is rising in real terms (that means counting for inflation), so people are actually buying more food, mostly because they're going to restaurants and using DoorDash more. https://fred.stlouisfed.org/series/DFXARX1M020SBEA https://fred.stlouisfed.org/series/DFXARX1M020SBEA
autoexec 2y ago
> Disposable income is still available. Durable goods spending exploded after COVID. Only for some. Household debt is at an all time high, and evictions and utility disconnections are skyrocketing. Homelessness is at record highs. Hunger in the US is soaring too. 18 million households last year struggled at some point to secure enough food, the worst its been in nearly a decade. Many people are suffering under the outrageous prices companies are charging.
- astrange 2y ago
  > Household debt is at an all time high That's because people have more money than ever so they're using credit cards more. It's also partly due to inflation. Household debt-to-income ratios are not high. > evictions and utility disconnections are skyrocketing I don't believe this is true. > Hunger in the US is soaring too. This is true, but it's because the extended child tax credit from 2020 expired - so we can fix it anytime we want.
  - autoexec 2y ago
    > I don't believe this is true. The evidence isn't hard to find. examples: https://finance.yahoo.com/news/whos-getting-evicted-america-data-103000833.html https://finance.yahoo.com/news/whos-getting-evicted-america-... https://finance.yahoo.com/news/home-foreclosures-highest-level-since-214849310.html https://finance.yahoo.com/news/home-foreclosures-highest-lev... https://www.npr.org/2023/06/21/1183408490/evictions-are-increasing-dramatically-since-the-lifting-of-pandemic-era-protecti https://www.npr.org/2023/06/21/1183408490/evictions-are-incr... https://denverite.com/2024/09/12/denver-eviction-cases-increase-2024/ https://denverite.com/2024/09/12/denver-eviction-cases-incre... https://www.azfamily.com/2023/11/02/maricopa-county-breaks-2005-record-eviction-filings/ https://www.azfamily.com/2023/11/02/maricopa-county-breaks-2... https://apnews.com/article/homelessness-increase-rent-hud-covid-60bd88687e1aef1b02d25425798bd3b1 https://apnews.com/article/homelessness-increase-rent-hud-co... As for utilities things would be even worse except for states working to prevent disconnections during heat waves https://www.power-grid.com/customer-service/customer-shutoffs-rose-last-year-so-did-utility-ceo-pay/ https://www.power-grid.com/customer-service/customer-shutoff... https://cordcuttersnews.com/1-in-5-u-s-households-struggle-to-pay-rising-utility-costs-heres-how-cord-cutting-can-help/ https://cordcuttersnews.com/1-in-5-u-s-households-struggle-t... https://www.opb.org/article/2024/05/31/oregon-electric-utilities-gas-service-heat-electricity/ https://www.opb.org/article/2024/05/31/oregon-electric-utili... https://energyjustice.indiana.edu/our-work/_news/20240822-behind-on-electric-bills-a-spike-in-disconnections-has-the-state-seeking-solutions.html https://energyjustice.indiana.edu/our-work/_news/20240822-be...

amock 2y ago

Just because spending is rising doesn't mean people are buying more things. Prices have increased, so people can be buying fewer goods and still spending more.

astrange 2y ago
Spending on food is rising in real terms (that means counting for inflation), so people are actually buying more food, mostly because they're going to restaurants and using DoorDash more. https://fred.stlouisfed.org/series/DFXARX1M020SBEA https://fred.stlouisfed.org/series/DFXARX1M020SBEA

autoexec 2y ago

> Disposable income is still available. Durable goods spending exploded after COVID. Only for some. Household debt is at an all time high, and evictions and utility disconnections are skyrocketing. Homelessness is at record highs. Hunger in the US is soaring too. 18 million households last year struggled at some point to secure enough food, the worst its been in nearly a decade. Many people are suffering under the outrageous prices companies are charging.

astrange 2y ago
> Household debt is at an all time high That's because people have more money than ever so they're using credit cards more. It's also partly due to inflation. Household debt-to-income ratios are not high. > evictions and utility disconnections are skyrocketing I don't believe this is true. > Hunger in the US is soaring too. This is true, but it's because the extended child tax credit from 2020 expired - so we can fix it anytime we want.
- autoexec 2y ago
  > I don't believe this is true. The evidence isn't hard to find. examples: https://finance.yahoo.com/news/whos-getting-evicted-america-data-103000833.html https://finance.yahoo.com/news/whos-getting-evicted-america-... https://finance.yahoo.com/news/home-foreclosures-highest-level-since-214849310.html https://finance.yahoo.com/news/home-foreclosures-highest-lev... https://www.npr.org/2023/06/21/1183408490/evictions-are-increasing-dramatically-since-the-lifting-of-pandemic-era-protecti https://www.npr.org/2023/06/21/1183408490/evictions-are-incr... https://denverite.com/2024/09/12/denver-eviction-cases-increase-2024/ https://denverite.com/2024/09/12/denver-eviction-cases-incre... https://www.azfamily.com/2023/11/02/maricopa-county-breaks-2005-record-eviction-filings/ https://www.azfamily.com/2023/11/02/maricopa-county-breaks-2... https://apnews.com/article/homelessness-increase-rent-hud-covid-60bd88687e1aef1b02d25425798bd3b1 https://apnews.com/article/homelessness-increase-rent-hud-co... As for utilities things would be even worse except for states working to prevent disconnections during heat waves https://www.power-grid.com/customer-service/customer-shutoffs-rose-last-year-so-did-utility-ceo-pay/ https://www.power-grid.com/customer-service/customer-shutoff... https://cordcuttersnews.com/1-in-5-u-s-households-struggle-to-pay-rising-utility-costs-heres-how-cord-cutting-can-help/ https://cordcuttersnews.com/1-in-5-u-s-households-struggle-t... https://www.opb.org/article/2024/05/31/oregon-electric-utilities-gas-service-heat-electricity/ https://www.opb.org/article/2024/05/31/oregon-electric-utili... https://energyjustice.indiana.edu/our-work/_news/20240822-behind-on-electric-bills-a-spike-in-disconnections-has-the-state-seeking-solutions.html https://energyjustice.indiana.edu/our-work/_news/20240822-be...