Actually, this matters a great deal with the Fed meeting this week. From the NY Fed as part of their Survey of Consumer Expectations Series:
SCE HOUSEHOLD SPENDING SURVEY
- The median reported year-over-year increase in monthly nominal household spending declined to 4.1 percent in August from 4.5 percent in April, the lowest level since April 2021. The decline was broad-based across age and income groups and largest for those with at most a high school diploma.
- While overall spending growth declined, the share of respondents reporting making any large purchase over the past four months increased to 60.8 percent in August from 53.5 percent in April. The share reporting a purchase of electronics, home appliances, furniture, home repairs, homes, vehicles, and vacations all increased in August.
- The median expected overall nominal spending growth over the next twelve months decreased to 3.0 percent in August from 3.3 percent in April. The decrease was broad-based across age, income, and education groups.
- The median expected year-ahead growth in everyday essential spending, or daily living expenses related to what one absolutely needs, decreased to 4.7 percent in August from 4.9 percent in April. The median expected growth in non-essential spending increased to 1.9 percent in August from 1.0 percent in April.
Of ocurse, here in the Outbck of East Texas, if it can’t be fuel, fried or fired, we don’t have much use for it. but in the cities? Yeah, people will buy damn near anything. Take New York…please…
~ure
interesting observation. after this morning conversation here and a few other places. i went and took a few items to my lady that she needed at her work. i spoke with several people who all do not know each other.
every single one of them told me they went to the bank today and took out all their money in cash except what was needed for short term auto pay bills. a few of them who had the money paid their house payments for next month, untilities early with drew everything left over in cash.
i asked them why would you do that. they all said the same thing. i dont know, i just felt like i should have my money at home with me then i withdrew all my money in cash and put a pause on my debit card. it may be nothing. but if i need anything i will just pay cash.
these arent conspiracy type people. a few of them strong anti-vax people. but they are not conspiracy types. few of them are dyed in the wool demicrats and a few are staunch Republicans bit other than that they are not the conspiracy types. they are all from different walks in life and faiths.
its not normal that i talk to several people in a day and all of them tell me they went to the bank and withdrew all their money in cash and left the bare mimimum in checking and savings. all of them on the same day? for no other reason other than “i felt like i should” or “I dont know why but it made sense” so i went to the bank and withdrew all my money so i have it at home.
sort of a quiet bank run… if you will…
so i did the same thing. lol.
after the last one told me they did that the country station on the radio played an old Abba Song. that is not normal. they played the whole Abba song. then another country song came on and nobody on the radio said a thing.
take a chance me.
https://youtu.be/-crgQGdpZR0?si=5iLlyQtUGdqQcNEJ
abba.
strange………
FWIW
its a mess behind the curtain .cant make an omelet without breaking an egg
zorrroooo rules left marxist female anatomy ugly fella .. boss be be , ending bad .. USA USA USA USA heard it zorro . ugly old wanker .