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| Income And Spend: Sucks in forum [Market-Ticker]
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Otiswild
Posts: 5677
Incept: 2009-03-09
Inside you, the force is!
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Quote:For 2010, downward revisions to personal interest income, to nonfarm proprietors’ income, to supplements to wages and salaries, and to personal current transfer receipts were partly offset by upward revisions to rental income of persons, to wages and salaries, and to farm proprietors’ income." In other words, the "rental income" that offset downward income revisions came exclusively from the $50-100 billion squatters' rent annually "generated" from homeowners not paying their mortgages. End result: a surge in the savings rate to 5.4% from 5.0%, the highest since February 2011, as consumers retrench across the board. http://www.zerohedge.com/news/income-and....More folks need to quit payin' their mortgage and 'save' it.. |
Docj
Posts: 1012
Incept: 2009-09-10
Duck & Cover
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Genesis wrote..There's no joy here folks..... For once you seem to be sugar-coating, KD! This report is an absolute festival of suck. Wow. Good thing they're going to run-up another $2.4T on the government credit card, eh? Because the last $5T worked so splendidly, of course.
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The preservation of liberty depends upon the intellectual and moral character of the people. As long as knowledge and virtue are diffused generally among the body of a nation it is impossible they should be enslaved. - John Adams
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Eli
Posts: 7263
Incept: 2007-09-10
Online
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The key there is the rise in gov. cheese.
The only place that is taking up the slack is coming through the gov. credit card.
The decrease in personal spending means a few more million people get on the gov. dole.
But hey it is all good.
The sheer weight of government dependance has destroyed our economy. An expansion in the debt just means more money is spent on the FSN and more and more people realize that there is no reason to work, becoming a leach is the only way to go.
But the sad reality is you cannot borrow an economy, you can however borrow your way to a bigger boat anchor.
I'm just waiting for the flash.
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If you want a vision of the future, imagine a boot stamping on a human face - forever.
George Orwell
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Jono
Posts: 110
Incept: 2011-05-25
Banned
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To the Mortgage guys out there
I need a 3rd and 4th mortgage so I can pay my 1st and 2nd plus expenses!
Hell if the governments plan work that way why not use it myself
"You gotta spend money to save money".........VP Joe "terrorist" Bitme
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Etz
Posts: 13924
Incept: 2007-06-26
LA
Online
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Think of it as the "Friends of Barry" recovery... 
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Legal chicanery and beneficent darkness are the banker's stoutest allies - F.Pecora.
Greetings to all my fans at the NSA. Pressure Cooker bombing hugs and kisses!
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Swampwoman
Posts: 388
Incept: 2009-12-06
NE Florida
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And the politicians fiddle while the economy turns to ashes.....
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“A body of men holding themselves accountable to nobody ought not to be trusted by anybody." --Thomas Paine
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Lcoscare
Posts: 12
Incept: 2010-01-27
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Hi Karl,
Is your analysis per capita?
"Personal income increased $18.7 billion, or 0.1 percent"
I have a feeling this isn't adjusted for population increases, and therefore, it's even worse than it looks.
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Genesis
Posts: 131489
Incept: 2007-06-26
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Correct, it's not. That's BEA's data and it's gross - no adjustment for population.
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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
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Supertruckertom
Posts: 252
Incept: 2010-11-07
USA
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My anecdotal....freight has slowed.
Our hiring is finished for the year. We added about 8 drivers to replace a couple that no longer work with us and the others for increased business.
Total bills per day in Atlanta is about 800-900. We had briefly peaked past 1000 per day. In 2007 it was 1600. In the Fall of 2009 it had collapsed to 400. There is a seasonality to it though, retailers are changing from Summer to Fall product lines and let inventory sell down.
I work at a national LTL Freight company. 5th largest by revenue...
I feel that we are gaining business by pricing rather than the general economy improving. Being at a debt free privately held company may work out for now...
If layoffs come then I might barely squeak by even with a 50% drop off.
I tried explaining this recent political news to my teenagers.
They were not really listening until I told them they would be lucky to keep half of the income they earn by the time they are almost 30. If they had a job.
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What I do is fairly simple.
People need their stuff.
It is my job to get it to them.
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