Tuesday, November 15, 2011

Out of the abyss, consumers keep spending

You'd never know it from the economic stats that matter -- like wealth distribution and personal income, the job market, etc., but people are pulling dollar bills out of their asses to continue their consumerist binge:
Consumers keep spending, driving gains in retail sales - chicagotribune.com: "Consumers kept hitting the stores in October despite economic headwinds and higher gas prices that took a bite out of their wallets.

The Commerce Department reported that retail sales were up 0.5 percent compared to September. That was a bit better than the 0.4 percent rise economists surveyed by Briefing.com had forecast.

Part of the additional spending came on autos, as automakers reported a solid gain in sales. Excluding auto sales retail sales shot up 0.6 percet, three times stronger than had been forecast.

The report also showed strength in electronics and building supply retailers."
How this goes on under the circumstance is anyone's guess, although one can easily take a whack at it: credit cards.

If you get a card with a $10,000 limit, and the monthly minimum payment is $70, hell, you can go on spending like there's no tomorrow -- which for you there won't be, saddled with a shitload of debt that keeps your nose to the grindstone long after your shiny gizmos and gadgets have been consigned to the trash heap.

You can't even crawl out from under those debts with bankruptcy like you once could, so creditors will hound you until you're sleeping under a bridge. It's a hell of a way to end one's life, but it can be fun while it lasts...

After all, how do you think people end up living in their cars?


No comments:

Post a Comment