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Car sales are down for the year. Houses are down or stable.
Durable goods orders in 2019 are negative (positive in June, negative for months before that - down for the calendar year).....
People are spending money but on what...is the question....and CC debt just hit an all time high, so they aren't buying it with saved money.
I'm pretty much in the "could be that consumer, but don't want anything" although I helped the economy greatly in the last year with two new car purchases.
Although we (our family) create a lot of economic activity (of all sorts...), we are not currently consumers that buy iPhone XS and new MacBook Pros and 4K TVs (we don't have a one) or even higher end cable or internet. We cook our own food, etc - and do 90% of our cleaning, repairs, etc.
But, all in all, I cannot lie. We have spent a lot of money in the last 12 years (houses, cars, gifts to kids like down payment on houses, etc. etc.). But we realize we are not the norm....
Life is funny that way. Look at the folks driving really fancy cars in many places and they are old as the hills. That is, by the time you get enough to afford some of those things (and you don't have the kids sucking all your $$ and time), you really don't need it any way. I'm driving a vw now.
No. I'm not rich. I'm far from rich. I've been unemployed for about 7 weeks, but I'm starting a new job towards the end of the month. I should have more money coming. I'm far from rich. I've been cutting back on my consumption.
I have money because of a trust fund plus what I buy is for later resale at a profit. I am not attached to stuff. Anything is for sale providing the price is right.
That’s why I have money.
Good for you. You have a trust fund. I don't have a trust fund. I come from a middle class family, but I'm not rich. Most people don't have trust funds.
It's a roll of the dice, but I think I'd regret not trying more than trying and failing.
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