Consumer spending surge BLOWS AWAY estimates.. END IS NEAR

Topspin said:
if you dig deeper than your tabloid headlines the top 30%'s net worth is soaring.
These guys make up way more than 50% of the economy.
Feeble attempt, but nice try gerber.
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You truly are a fool. If the bottom 70% go down, we are going into a recession. Period. As for your tabloid comment, which one of us is supporting our hypothesis and which is clinging to past data hoping that the future will bring the same?

Which of us understands the effect rising energy, food, healthcare etc... will have on the economy when coupled with a decling dollar valuation and the credit crunch?

When it comes to economics toppy, you are a moron. The very fact that you act like the top 30% doing well means the economy will continue to do well shows your ignorance.
 
Topspin said:
if you dig deeper than your tabloid headlines the top 30%'s net worth is soaring.
These guys make up way more than 50% of the economy.
Feeble attempt, but nice try gerber.
Click to expand...

Well that is interesting since consumer spending makes up 60% of the economy.
 
supertool, people spending more than the take in during the xmas season.
OH the horror. your freaking kidding me right, you told that joke after saying you have a degree in economics. BHAHAAHAH
 
Yesterday there was a report about department stores all over the country staying open 24 hours a day until today. The report said that AFTER black friday, sales were flat, and that stores were losing money for the rest of the christmas season. Doesn't this go against the statement that consumer spending is up up up?
 
Topspin said:
supertool, people spending more than the take in during the xmas season.
OH the horror. your freaking kidding me right, you told that joke after saying you have a degree in economics. BHAHAAHAH
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Hey tard. Irresponsible personal spending does not only occur during the christmas season. An economy which depends on the personal financial irresponsibility of the majority is sick.
 
sick. Bahaha
its the strongest economy by 30 percent
you should look around the world where struggling people are skinny
 
take a look at the citizens
peoples assets are way up compared to there debt
Oh wait then you all couldn't throw a tizzy every time you read credit card debt is up LOL
 
Topspin said:
take a look at the citizens
peoples assets are way up compared to there debt
Oh wait then you all couldn't throw a tizzy every time you read credit card debt is up LOL
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Per Capita savings is lower than before, take a look yourself. The dollar started going up recently, because other nations seem to be following in the folly.

But you should look realistically at your own micro economics then compare them to what is happening on average elsewhere. Most people are too stupid to realize that massive debt is not a "good" thing and are convinced that they get a "tax break" for paying interest on a house.

I have news for them. Your "break" is less than you pay, it isn't worth it....
 
Topspin said:
supertool, people spending more than the take in during the xmas season.
OH the horror. your freaking kidding me right, you told that joke after saying you have a degree in economics. BHAHAAHAH
Click to expand...

Lets recap toppy...

Toppy says "retail sales are up, hooray! No recession, everything going strong"...

SF says "but toppy, retail sales are up because people are using debt to fund the spending"

Toppy says "well of course they are, but all is well"

Now for one second toppy, stop and THINK about what this means. Those people that borrowed that money to pay for things NOW are going to have to pay back that debt LATER. Which means consumer spending should do what toppy????

Are these people going to magically get more money to pay off the debt they just built? Or are they going to have to cut spending in order to pay it off?
 
To economists, this IS the proper functioning of a capitalist society, controlling people with debt and privation.
 
Superfreak said:
Lets recap toppy...

Toppy says "retail sales are up, hooray! No recession, everything going strong"...

SF says "but toppy, retail sales are up because people are using debt to fund the spending"

Toppy says "well of course they are, but all is well"

Now for one second toppy, stop and THINK about what this means. Those people that borrowed that money to pay for things NOW are going to have to pay back that debt LATER. Which means consumer spending should do what toppy????

Are these people going to magically get more money to pay off the debt they just built? Or are they going to have to cut spending in order to pay it off?
Click to expand...

Have people never used debt before? I don't understand your question. Is economic activity only good if it's a cash transaction? People will budget their finances to cover their bills. Some people, as always, will not be able to pay their bills. Are we supposed to collectively feel sorrow for these irresponsible consumers?
 
tinfoil said:
Have people never used debt before? I don't understand your question. Is economic activity only good if it's a cash transaction? People will budget their finances to cover their bills. Some people, as always, will not be able to pay their bills. Are we supposed to collectively feel sorrow for these irresponsible consumers?
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When growth DEPENDS on personal irresponsibility there's a problem.

You can judge those doing this, but the fact is that people doing "well" are dependant on the bad decisions of their fellow men. this kind of intersocial adversarial/predatory relationship is a bit sick.
 
tinfoil said:
Have people never used debt before? I don't understand your question. Is economic activity only good if it's a cash transaction? People will budget their finances to cover their bills. Some people, as always, will not be able to pay their bills. Are we supposed to collectively feel sorrow for these irresponsible consumers?
Click to expand...

yes tin, they have used debt before and will again. The point is that toppy was championing the retail numbers as if that meant the economy was strong. IF people are using debt to support those retail numbers NOW, then that means they will be using their income to pay off that debt in the future. Meaning this will effect future consumer spending.
 
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