Consumer Spending Update, Savings Update & Other Data

Consumption on Non-Durable Goods Down:

Savings Up:

Savings Rate Up, it was obviously unsustainable below 0:

Personal Income Peaking:

All in line with an ongoing consumer credit contraction. All in line with phase 8 of the bunsiness cycle. Be prepared for much worse.

Related Posts:

• The End of Consumerism
• Sectoral Balances and Private Saving
• Is Austerity a “Recipe for Disaster”?
• US Consumer Mood Down in July Survey
• College Grads Move Back Home – Time to Reflect and Change Attitudes
• Biden Tries to Square the Economic Circle
• The Great Credit Contraction & Deflation
• US Saving Rate Highest in 16 Years
• Consumer Credit – June 2009
• True Consumption as Percentage of GDP