Personal Consumption Expenditures (PCE) As A %GDP and Personal Consumption Expenditures As A %GDP Average from 1947:
Most Americans, both private and public, have yet to realize that the message of the markets has changed dramatically since 2009. The credit mechanism that supported consumerism is a shell of its former glory. Loan creation at US commercial banks has rolled over across the board. Yet, many Americans remain in denial to this reality. It’s easier to embrace the old days of “shop ‘til you drop” rather than recognized that life has changed in a material way.
As I said many times before, market forces do not demand recognition or acceptance. Their only demand is acquiescence. Acquiescence usually takes the form of brute force by deterioration of one's purchasing power (standard of living).
Bob makes a few important observations about the inherent dangers of a consumption (consumerism)-driven society.
BLACK FRIDAY
How pathedic for People that can't afford the items They purchase even at discount just buy and add it to their Credit Card balance which will never get paid
Or how about People that are not paying their mortgages still living in a house that they never could afford out shopping instead of paying the mortgage
The power of the media is beyond belief, the control is complete They have once again convinced the masses to "Go For It" yes people are shopping but the great game of unbridled debt continues.
Events such as People actually hurting one another at a Store opening is sickening and causes Me to wonder of the I.Q's of those that the Media has termed CONSUMERS.
These are some of the same people that the majority of us are bailing out in one form or another when they go Bankrupt !
Common Sense the foundation on which We as a Nation was built has obviously and recklessly been abandoned and been replaced with Days, Months, and Years of BLACK FRIDAY'S.......(pray)
Bob.C
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