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Overall debt is increasing, sorry to burst your "bubble" (pun intended). .
Savings are at 15 year high. Sorry. People have held off spending, so now they actually have money to spend.
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Congrats on paying for cash my friend.
Actually I just said some of us don't have to charge everything.
OK, so you see increased spending as a bad thing, and a source for more problems.... That mindset is nothing new, but consumer spending makes up three quarters of US economy, so most non-partisan people will see this as a good thing.
Savings are at 15 year high. Sorry. People have held off spending, so now they actually have money to spend.
If real incomes are stagnant/falling and savings are up, how can spending be up? You used personal anecdotal evidence from your own life and assumed that I "swiped" in order to make your point. I'm hoping you'll make a more convincing case in take 2, my friend.
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Actually I just said some of us don't have to charge everything.
OK, so you see increased spending as a bad thing, and a source for more problems.... That mindset is nothing new, but consumer spending makes up three quarters of US economy, so most non-partisan people will see this as a good thing.
Keep spinning the negative angles.
Actually, it's very very bad for 75% of one's economy to be entrenched in consumer spending. That number will go down, regardless of how much the government tries to interfere. It's only a matter of time.
I paid cash for LCD TV for my in-laws. Like I said, there are plenty of people who have saved money.
Congrats! Unfortunately, you're in an extreme minority. While buying my girlfriend a $20 present this year (because I'm actually walking the walk rather than just talking the talk), I noticed quite a few swipes at the electronics section for big ticket items. In fact, they were ALL swipes. My anonymous internet anecdotal evidence trumps yours!
If real incomes are stagnant/falling and savings are up, how can spending be up?
It's simple if you think about it. You save all year, and then you have money to spend. Get it? Spending was down, because people were not spending, they were saving.
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You used personal anecdotal evidence from your own life
Yes, because you seem to suggest that you are the only person successful and smart enough to not have to use a credit card, while everyone else is a bunch of losers who always drive themselves deeper into debt. Well, now you know you are not the only one, and there are millions of such people ....my friend....
Congrats! Unfortunately, you're in an extreme minority. While buying my girlfriend a $20 present this year (because I'm actually walking the walk rather than just talking the talk), I noticed quite a few swipes at the electronics section for big ticket items. In fact, they were ALL swipes. My anonymous internet anecdotal evidence trumps yours!
Yes, you can swipe a DEBIT CARD, which is CASH. No one carries paper notes anymore.
It's simple if you think about it. You save all year, and then you have money to spend. Get it? Spending was down, because people were not spending, they were saving.
Since people are saving more, other parts of the economy must be suffering very badly. Real estate? Automobiles? Restaurants? Which ones? If they are all humming along pretty well, the general retail area, then something is wrong with the math. Does the savings rate only take into account CC debt? What about the 72/84/96 month car loans newly acquired during C4C?
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Yes, because you seem to suggest that you are the only person successful and smart enough to not have to use a credit card, while everyone else is a bunch of losers who always drive themselves deeper into debt. Well, now you know you are not the only one, and there are millions of such people ....my friend....
No problem buddy. I'm looking forward to the statistic saying that millions of such people are buying large ticket items with the Benjamins only. Until then, my unverified anonymous evidence trumps your unverified anonymous evidence. I'm very pleased you'll be having a fantastic new year with an only cash diet though.
Even better news for our recovery..
Chinese Industrial Production up 19.2% over last year
Chinese fixed asset investments up 32.1% over last year
Chinese planned investment in new construction up 76.6% over last year
Chinese retail sales grew 15.8% over last year
Many might ask why this is good news for us, but we are a world wide economy, and it seems that the Chinese might just pull us out of our recession.
Yes, you can swipe a DEBIT CARD, which is CASH. No one carries paper notes anymore.
Where have you been?
Thats a pretty big assumption to assume that people in a store that you werent even present in, were using debit cards.
I'm always amazed by people who use made up unknown information to argue over a meaningless position, and this comment doesnt just apply to you. For this thread, its meaningless to argue if an item was bought by cash, or credit, the point is, sales have increased..
So, a lot of the cash for clunkers customers were all cash buyers, or did many of them take out fresh 72/84 month loans? If I were a gambling man...
That article is a survey...it is entropy deficient. So what if more say they're using cash? The more that are opting for cash could also be the ones buying small items, whereas the ones who are "swiping" are buying 42" LCD TVs from China.
I know the article is a survey.I don't know about others, but it seems to me that using cash to shop is better than using a credit card, which is borrowing money from the bank to pay for toys & clothing.
Credit Card Press Releases (http://www.lowcards.com/creditcardnews.asp - broken link)
It seems the with a number of latest studies, people are starting to opt out of using their credit cards and also saving more. U.S. spending and credit card offers decrease in wake of economy
I've heard multiple people say that they'd rather use cash than credit because using cash requires more discipline & less spending, so what you don't have you will not spend.
This is also the concept that I'm usiing for this holiday season.
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Unfortunately, you're in an extreme minority. While buying my girlfriend a $20 present this year (because I'm actually walking the walk rather than just talking the talk), I noticed quite a few swipes at the electronics section for big ticket items. In fact, they were ALL swipes. My anonymous internet anecdotal evidence trumps yours!
....my friend....
