Current Events > CNN: Americans Are Spending Like Mad Again

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FLUFFYGERM
06/14/18 12:31:51 PM
#1:


http://money.cnn.com/2018/06/14/news/economy/retail-sales-consumer-spending/

Americans are spending. A lot. And not just on Amazon.

Retail sales rose 0.8% in May, the government reported Thursday much better than expected. Spending was up 5.9% from a year ago.

And the gains were broad: Spending surged at clothing stores, at restaurants and at home-improvement stores such as Home Depot (HD) and Lowe's (LOW).

In fact, the jump in spending at physical stores in May outpaced what the government calls nonstore retailers, a category that includes Amazon (AMZN) and other online retailers. (It also includes catalog retailers, vending machines and even newspaper delivery. How quaint!)

American shoppers are feeling more confident because of a strong economy and job market. The unemployment rate is the lowest since 2000. And most people have some extra money from the tax cuts enacted late last year.

Retail sales have been improving after a tough start to the year.

A harsh winter may have been partly to blame for weak spending in January and February. Economists also speculated that Americans were waiting to see what would happen with tax laws. Once the tax cuts passed, it was an all-clear to start shopping.

All that spending should boost economic growth.

Related: Maker of Jack Daniel's worried about impact of trade war

Economists at Barclays raised their forecast Thursday in light of the strong retail sales figures. They now think the economy will expand at an annual rate of 3.5% in 2018, up from their earlier estimate of 3%.

Americans may not be able to keep spending at this pace indefinitely.

The savings rate dipped to 2.8% in April as the rate of consumer spending outpaced the increase in personal income.

The savings rate has only been below 3% three times since the 2008 financial crisis. It was also lower than 3% last November and December, but it rebounded after the holiday shopping season.

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spudger
06/14/18 12:33:14 PM
#2:


should be saving and paying off debt but naaaah; we too stupid for that.
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FLUFFYGERM
06/14/18 12:33:19 PM
#3:


@Antifar
@Godnorgosh

So they have a windfall from the tax cuts and the strong economy but are spending like wild instead of saving. While it may stimulate the economy in the short term, this behavior is in stark contrast to the left's whining about how impoverished the average American is.

When in reality the average American is broke because they're fucking spending every penny like there is no tomorrow.
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FLUFFYGERM
06/14/18 12:34:01 PM
#4:


spudger posted...
should be saving and paying off debt but naaaah; we too stupid for that.


Yeah, but don't worry, any day now we'll get another topic from Antifar or Omnislasher about how the middle class is getting shafted and robbed by the wealthy.
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Genocet_10-325
06/14/18 12:35:53 PM
#5:


You realize how small the tax cuts were for most right?

My dad makes $150k per year and his paycheck went up by $25 a week. And even that was more than offset by the fact he owns a house and is losing $6000 a year due to the gutting of the state and local tax deduction
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MedzXVIII
06/14/18 12:36:00 PM
#6:


Last time the rich was bailed out by the tax payers the rich blamed the poor and teachers.
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FLUFFYGERM
06/14/18 12:37:45 PM
#7:


Genocet_10-325 posted...
You realize how small the tax cuts were for most right?

My dad makes $150k per year and his paycheck went up by $25 a week. And even that was more than offset by the fact he owns a house and is losing $6000 a year due to the gutting of the state and local tax deduction


Why were we subsidizing your dad's house if he makes $150k per year and chooses to live in a county with astronomical property tax? And if he makes $150k per year and still got a tax cut rather than a tax raise, he's lucky.

For me the cut was around $180 per check. So several thousand per year.
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FLUFFYGERM
06/14/18 12:38:23 PM
#8:


MedzXVIII posted...
Last time the rich was bailed out by the tax payers the rich blamed the poor and teachers.


"WHAAAAAAA da rich!!!111 DA RICH!!111!1!11"

*spends every fucking penny like there's no tomorrow*
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Caution999
06/14/18 12:38:43 PM
#9:


Genocet_10-325 posted...
You realize how small the tax cuts were for most right?

My dad makes $150k per year and his paycheck went up by $25 a week. And even that was more than offset by the fact he owns a house and is losing $6000 a year due to the gutting of the state and local tax deduction


More proof the tax cuts are for the common man who makes 5 figures and not 6. More proof the Dems are the ones taxing up the poor up the ass.
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UnfairRepresent
06/14/18 12:39:19 PM
#10:


Thanks Trump!
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Genocet_10-325
06/14/18 12:39:33 PM
#11:


Caution999 posted...
Genocet_10-325 posted...
You realize how small the tax cuts were for most right?

My dad makes $150k per year and his paycheck went up by $25 a week. And even that was more than offset by the fact he owns a house and is losing $6000 a year due to the gutting of the state and local tax deduction


More proof the tax cuts are for the common man who makes 5 figures and not 6. More proof the Dems are the ones taxing up the poor up the ass.

But people making 5 figures are getting even less, which is my point.
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EndOfDiscOne
06/14/18 12:41:37 PM
#12:


Genocet_10-325 posted...
Caution999 posted...
Genocet_10-325 posted...
You realize how small the tax cuts were for most right?

My dad makes $150k per year and his paycheck went up by $25 a week. And even that was more than offset by the fact he owns a house and is losing $6000 a year due to the gutting of the state and local tax deduction


More proof the tax cuts are for the common man who makes 5 figures and not 6. More proof the Dems are the ones taxing up the poor up the ass.

But people making 5 figures are getting even less, which is my point.


Some, but most are not. People of all income levels will generally pay less tax.
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soyforsteaks
06/14/18 12:41:50 PM
#13:


Trump has set us back years. Literally conservatives earn the name cuckservative when they are proud of a few extra thousand a year compared an extra million a year for Mr millionaire.
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voldothegr8
06/14/18 12:42:19 PM
#14:


Take note Democrats, when you don't tax the shit out of everything the economy thrives! Who could have known!?
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FLUFFYGERM
06/14/18 12:42:40 PM
#15:


It sucks that you get a response notification even when someone on your Ignore List posted.
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Genocet_10-325
06/14/18 12:42:56 PM
#16:


EndOfDiscOne posted...
Genocet_10-325 posted...
Caution999 posted...
Genocet_10-325 posted...
You realize how small the tax cuts were for most right?

My dad makes $150k per year and his paycheck went up by $25 a week. And even that was more than offset by the fact he owns a house and is losing $6000 a year due to the gutting of the state and local tax deduction


More proof the tax cuts are for the common man who makes 5 figures and not 6. More proof the Dems are the ones taxing up the poor up the ass.

But people making 5 figures are getting even less, which is my point.


Some, but most are not. People of all income levels will generally pay less tax.


Woohoo, an extra 5-10 bucks a week. That's nothing, even to a minimum wage worker that's basically nothing.
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FLUFFYGERM
06/14/18 12:43:21 PM
#17:


voldothegr8 posted...
Take note Democrats, when you don't tax the shit out of everything the economy thrives! Who could have known!?


The problem is that people are stupid and instead of increasing their saving, investment, and debt repayment...they're squandering it all.
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MedzXVIII
06/14/18 12:44:21 PM
#18:


FLUFFYGERM posted...
MedzXVIII posted...
Last time the rich was bailed out by the tax payers the rich blamed the poor and teachers.


"WHAAAAAAA da rich!!!111 DA RICH!!111!1!11"

*spends every fucking penny like there's no tomorrow*

Never had a tax payer bail out
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voldothegr8
06/14/18 12:44:28 PM
#19:


FLUFFYGERM posted...
voldothegr8 posted...
Take note Democrats, when you don't tax the shit out of everything the economy thrives! Who could have known!?


The problem is that people are stupid and instead of increasing their saving, investment, and debt repayment...they're squandering it all.

Implying people were saving before.
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ReelBigMurlocs
06/14/18 12:45:01 PM
#20:


FLUFFYGERM posted...
It sucks that you get a response notification even when someone on your Ignore List posted.
wow brag about it
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FLUFFYGERM
06/14/18 12:45:52 PM
#21:


voldothegr8 posted...
FLUFFYGERM posted...
voldothegr8 posted...
Take note Democrats, when you don't tax the shit out of everything the economy thrives! Who could have known!?


The problem is that people are stupid and instead of increasing their saving, investment, and debt repayment...they're squandering it all.

Implying people were saving before.


The point is that people have been enjoying a stronger economy for years now but they're just upping their spending like crazy instead of being smart.

And then we've got the socialist clowns who pretend we have an income problem when in reality people have a spending problem.
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littlebro07
06/14/18 12:49:00 PM
#22:


Genocet_10-325 posted...
Caution999 posted...
Genocet_10-325 posted...
You realize how small the tax cuts were for most right?

My dad makes $150k per year and his paycheck went up by $25 a week. And even that was more than offset by the fact he owns a house and is losing $6000 a year due to the gutting of the state and local tax deduction


More proof the tax cuts are for the common man who makes 5 figures and not 6. More proof the Dems are the ones taxing up the poor up the ass.

But people making 5 figures are getting even less, which is my point.


This

I make 42k. Checks went up $12 biweekly.

Gas prices went up and it's pretty much a wash now.

I was saving that $24/month btw. I wanna be a millionaire in 15 years, ain't gonna happen if I go buy a bunch of shit I don't need like most 'muricans do
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soyforsteaks
06/14/18 12:50:52 PM
#23:


littlebro07 posted...
Genocet_10-325 posted...
Caution999 posted...
Genocet_10-325 posted...
You realize how small the tax cuts were for most right?

My dad makes $150k per year and his paycheck went up by $25 a week. And even that was more than offset by the fact he owns a house and is losing $6000 a year due to the gutting of the state and local tax deduction


More proof the tax cuts are for the common man who makes 5 figures and not 6. More proof the Dems are the ones taxing up the poor up the ass.

But people making 5 figures are getting even less, which is my point.


This

I make 42k. Checks went up $12 biweekly.

Gas prices went up and it's pretty much a wash now.

cheer up, at least mr millionaire can buy a new ferrari

don't like it? better become a millionaire and stop complaining
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kingdrake2
06/14/18 12:51:01 PM
#24:


spending increasing, goal is to find cheaper place that accepts my dog (it's kinda tough to find place that will accept) payment not the problem its finding one.

getting rid of the dog is not an option. unless it dies of natural causes or its quality of life is extremely low.
(had to put down my cat when it's quality of life was awful because of the cancer).
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Romulox28
06/14/18 12:53:48 PM
#25:


i always feel like it is kind of weird how some ppl on this site think that spending money in any non-essential way is squandering it. there is just a lot of expenses to maintaining a normal life
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FLUFFYGERM
06/14/18 12:54:54 PM
#26:


Romulox28 posted...
i always feel like it is kind of weird how some ppl on this site think that spending money in any non-essential way is squandering it. there is just a lot of expenses to maintaining a normal life


Way to miss the point

It's almost as if you intentionally missed the point
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emblem boy
06/14/18 12:56:40 PM
#27:


FLUFFYGERM posted...
And the gains were broad: Spending surged at clothing stores, at restaurants and at home-improvement stores such as Home Depot (HD) and Lowe's (LOW).


I should really buy into HD low LOW
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Samurontai
06/14/18 1:08:13 PM
#28:


Does Proudclad even have any friends in real life?

Does he even have a life outside of CE?
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FLUFFYGERM
06/14/18 1:15:30 PM
#29:


emblem boy posted...
FLUFFYGERM posted...
And the gains were broad: Spending surged at clothing stores, at restaurants and at home-improvement stores such as Home Depot (HD) and Lowe's (LOW).


I should really buy into HD low LOW


hmmm i might pick some up as well tbqh
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darkjedilink
06/14/18 1:21:10 PM
#30:


Genocet_10-325 posted...
You realize how small the tax cuts were for most right?

My dad makes $150k per year and his paycheck went up by $25 a week. And even that was more than offset by the fact he owns a house and is losing $6000 a year due to the gutting of the state and local tax deduction

So, you're getting EXACTLY what you suggest - tax net increases for the wealthy?
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Uncle Choad
06/14/18 1:21:53 PM
#31:


Genocet_10-325 posted...
You realize how small the tax cuts were for most right?

My dad makes $150k per year and his paycheck went up by $25 a week. And even that was more than offset by the fact he owns a house and is losing $6000 a year due to the gutting of the state and local tax deduction


Bernie Sanders would be proud.
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FLUFFYGERM
06/14/18 1:23:56 PM
#32:


no you guys, he meant the taxes had to increase for OTHER wealthy people

never his money!
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kingdrake2
06/14/18 1:25:12 PM
#33:


FLUFFYGERM posted...
no you guys, he meant the taxes had to increase for OTHER wealthy people

never his money!


for the record, if he doesn't want to share his money. he's a cheap bastard.
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FLUFFYGERM
06/14/18 1:26:13 PM
#34:


kingdrake2 posted...
FLUFFYGERM posted...
no you guys, he meant the taxes had to increase for OTHER wealthy people

never his money!


for the record, if he doesn't want to share his money. he's a cheap bastard.


what?
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MedzXVIII
06/14/18 1:30:04 PM
#35:


Americans spending all the extra money they made under Obama.
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ReelBigMurlocs
06/14/18 1:31:30 PM
#36:


Spending more because Americans only have petty cash and don't make enough for a sustainable retirement or future.
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FLUFFYGERM
06/14/18 1:32:32 PM
#37:


MedzXVIII posted...
Americans spending all the extra money they made under Obama.


tagged
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#38
Post #38 was unavailable or deleted.
MedzXVIII
06/14/18 1:34:13 PM
#39:


FLUFFYGERM posted...
MedzXVIII posted...
Americans spending all the extra money they made under Obama.


tagged

Have the common courtesy post the tag
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MedzXVIII
06/14/18 1:35:34 PM
#40:


Spooking posted...
Bush used our money for wars
Obama used our money for health care premiums
Trump gave us our money back!

And yet the National Debt is still going up
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ReelBigMurlocs
06/14/18 1:36:31 PM
#41:


MedzXVIII posted...
Spooking posted...
Bush used our money for wars
Obama used our money for health care premiums
Trump gave us our money back!

And yet the National Debt is still going up
It's not like it's the average citizen's fault
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kingdrake2
06/14/18 1:36:56 PM
#42:


FLUFFYGERM posted...
kingdrake2 posted...
FLUFFYGERM posted...
no you guys, he meant the taxes had to increase for OTHER wealthy people

never his money!


for the record, if he doesn't want to share his money. he's a cheap bastard.


what?


Trump.
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MedzXVIII
06/14/18 1:38:53 PM
#43:


ReelBigMurlocs posted...
MedzXVIII posted...
Spooking posted...
Bush used our money for wars
Obama used our money for health care premiums
Trump gave us our money back!

And yet the National Debt is still going up
It's not like it's the average citizen's fault

It is Trump's
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ReelBigMurlocs
06/14/18 1:39:47 PM
#44:


MedzXVIII posted...
ReelBigMurlocs posted...
MedzXVIII posted...
Spooking posted...
Bush used our money for wars
Obama used our money for health care premiums
Trump gave us our money back!

And yet the National Debt is still going up
It's not like it's the average citizen's fault

It is Trump's
It's the collective faults of many people in government and it won't change that quickly with one president
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catboy0_0
06/14/18 1:43:32 PM
#45:


Spooking posted...
Trump gave us our money back!

*a small portion
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MedzXVIII
06/14/18 1:43:38 PM
#46:


ReelBigMurlocs posted...
MedzXVIII posted...
ReelBigMurlocs posted...
MedzXVIII posted...
Spooking posted...
Bush used our money for wars
Obama used our money for health care premiums
Trump gave us our money back!

And yet the National Debt is still going up
It's not like it's the average citizen's fault

It is Trump's
It's the collective faults of many people in government and it won't change that quickly with one president

Unless if the President is a Democrat
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FLUFFYGERM
06/14/18 3:36:15 PM
#47:


bump
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#48
Post #48 was unavailable or deleted.
MedzXVIII
06/14/18 4:38:51 PM
#49:


Interesting when companies cut hours and pay because "times are tough" yet they are making record profits...
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FLUFFYGERM
06/14/18 4:50:40 PM
#50:


In during Medz meltdown
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