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Where I live, I'm seeing people spending money like it was going out of style, nice cars, going to high priced entertainment venues/concerts ----these folks were begging for money at gas stations back in 2008....I was approached regularly at gas pumps by men and their kids. This region of FL isn't what you'd call "high rent" - it's mostly lower middle class or working class.
I just hope they're stowing away money to emergency funds for the upcoming recession, job layoffs, etc. As we all know, the good times don't last forever.
Obama and his administration and we US tax payers did a lot (bail outs, stimulus, unemployment comp) to bring us to our current state of the economy. Hope Trump doesn't **** it up. I'm not confident that he knows what he's doing. Especially when listening to his word salad, repetitive pass-by press conferences in front of loud helicopters and airplane engines.
Where I live, I'm seeing people spending money like it was going out of style, nice cars, going to high priced entertainment venues/concerts ----these folks were begging for money at gas stations back in 2008....I was approached regularly at gas pumps by men and their kids. Obama and his administration did a lot to bring us to our current state of the economy. Hope Trump doesn't **** it up. I'm not confident that he knows what he's doing. Especially when listening to his word salad, repetitive pass-by press conferences in front of loud helicopters and airplane engines.
I don't buy into the consumer mentality. Maybe that's why I have money
Yep. Always lived below my means, and it paid off in the long run. Now I can afford what I want, but I don't want as much, and certianly not more consumer goods. I spend more on travel than anything else.
There are few things that I truly want to buy. Since retiring and moving to a walkable community I don't even drive that much anymore. I have been actively working to get rid of things I no longer need. Now any purchase I make has to go through a rigorous self-evaluation of whether I truly need it and if it's worth taking up space. The one area that my consumption has increased is in going out to dinner at our local restaurants. However, our overall consumption is down significantly and we don't miss it. Personally, the president's tax cut did nothing for us as residents of a SALT state. I am more concerned about the president putting pressure on the Fed to march us all toward negative interest rates.
Trump's budget (and our deficit) is at an all-time record. Today I read a headline about him wanting QE to be considered. He's spending our taxes as providing cuts to wealthy expecting the economic growth to provide more revenue. He's talking about a payroll tax cut today as well.
I think spending is a tool gov't needs to keep us out of major depression - so I felt Obama did what was needed during a national crisis in 2008/9. Auto, housing, banking, major unemployment, two wars, crappy infrastructure --that takes money/spending. We're paying the bill now. We tax payers put us in the position we're in, not Trump. Hope he doesn't **** it up.
There are few things that I truly want to buy. Since retiring and moving to a walkable community I don't even drive that much anymore. I have been actively working to get rid of things I no longer need. Now any purchase I make has to go through a rigorous self-evaluation of whether I truly need it and if it's worth taking up space. The one area that my consumption has increased is in going out to dinner at our local restaurants. However, our overall consumption is down significantly and we don't miss it. Personally, the president's tax cut did nothing for us as residents of a SALT state. I am more concerned about the president putting pressure on the Fed to march us all toward negative interest rates.
Funny how when we get older, we see that the materialism/consumerism that we had early in our lives is no longer important. I'm in the process of unloading/minimizing as well. As far as eating out --I've turned a new leaf with eating as well ---finding eating out isn't as healthy as eating at home and controlling what's put in it.
I'm concerned about the undue influence on the FED as well.
Why, sure, that tax cut made me wealthy beyond belief. I was on the fence as to whether I should buy pack of chewing gum or invest in some US Steel stock. Being the devil may care kind of guy I am, I went for the gum.
Can't wait for him to do another one of these terrific tax cuts........... this time I might spring for a two liter of Coke.
It doesn't matter how much I have its still "scared" money, and I'm just going to sit on it. I know they say, "scared money don't make no money," but until people feel more confidant, their money is not going to be part of the equation. IMO consumer wealth is not a good thing to gloat about if its just sitting and not being spent. Excess consumer wealth just means they haven't got that sucking machine working quite right yet. You know that machine that sucks money up from the consumer back up to the big banks.
Funny how when we get older, we see that the materialism/consumerism that we had early in our lives is no longer important. I'm in the process of unloading/minimizing as well. As far as eating out --I've turned a new leaf with eating as well ---finding eating out isn't as healthy as eating at home and controlling what's put in it.
I'm concerned about the undue influence on the FED as well.
As a renter who is the sole large male in the family, I actively want things gone. Im the one who has to move all the crap physically.
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