Consumer spending slips in August - Democratic Underground

gauguin57

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Thu Sep-30-04 12:19 PM
Original message

Consumer spending slips in August

Initial jobless claims rose in the latest week

http://www.msnbc.msn.com/id/6139971/

"WASHINGTON - Consumers were tightfisted with their money amid soaring gasoline costs in August and hurricane-related disruptions sent applications for jobless benefits to their highest level in seven months. ...

"Many economists say consumers are tapped out on spending for now, and that business investments will be counted on to charge the economy, which grew at a 3.3 percent annual rate in the second quarter."

Wonder why people aren't spending? Hmmmm ... could it be that everyone is petrified of losing their jobs, losing their insurance, losing their pensions, losing their Social Security, losing their Medicare, the economy tanking, Iraq sucking away all our tax money ...

Eff you, pResident Bush.

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Ripley

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Thu Sep-30-04 12:29 PM
Response to Original message

1. I wonder which reason they'll give for the slow Xmas spending?

1. The weather.
2. The election.
3. The late buyers smart policy of "buying on sale" JIT.
4. Football.

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NewYorkerfromMass

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Thu Sep-30-04 12:57 PM
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2. soaring gasoline costs will do it every time

Bush should lose based on his economic performance alone.

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cliss

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Thu Sep-30-04 01:04 PM
Response to Original message

3. They say that 2/3 of the economy is

driven by consumer spending. In other words: the Consumer is the King. So why do they treat the consumer so badly? Like jerking Joe Average around when he drives up to the pump.

Suddenly, he gets nailed for $40.00 instead of $35.00 when he tanks up. His wife and 2 teenage sons end up doing the same thing. Now, the conversation turns angry at the dinner table. Everyone is on a slow burn. Damn Shell, Conoco, and other gas retailers. They decide to do more than just grumble: they want to get revenge. But how?

In the meantime, everyone in the Average Family has less money to spend.

Have you got it now, Dick Cheney?

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mhr

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Thu Sep-30-04 02:48 PM
Response to Original message

4. All Hale The Emperor - All Hale The Emperor's Economy And Empire

Good citizens, just remember:

Render unto Bush the things which Bush demands ....

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IA_Seth

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Thu Sep-30-04 03:10 PM
Response to Original message

5. But, But...

I thought consumer confidence was on the rise?? (as reported just the other day)

Hmm...on 2nd thought, maybe CONFIDENCE is up, and spending down while people wait for President Kerry?

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