Americans have been pulling back on spending off and on since the pandemic started. And, in fairness, inflation is hitting many nations. Some are doing better, some are doing worse, for a variety of reasons. That said, we are worried about the U.S.A., and the president, his advisors, and the Democratic Party are not only ignoring the pain, they are keeping it going in an attempt to institute more government dominance, making people more reliant on the government. Also, to change your behavior. They won’t change theirs, just yours. And, in many cases, Biden and his Comrades are making inflation and pricing worse. I won’t blame Biden for inflation, that’s China’s fault. It’s the response that is the issue
Here’s where Americans are pulling back their spending as inflation takes a toll
Retail sales in the U.S. fell 1 percent from February to March, according to Census Bureau data released Friday, a sharp drop signaling that the economy is slowing faster than expected.
Analysts had predicted retail sales would fall 0.4 percent. Sales figures were down despite consumer prices rising 5 percent annually in March, indicating that sales volumes are seeing even steeper declines.
Spending is up just 2.9 percent compared to last year. But adjusted for inflation, retail sales are down 2 percent annually, according to EY-Parthenon senior economist Lydia Boussour.
“In other words, consumers are spending more dollars but are getting less goods or dining out less than in March last year,” Boussour said in an analysis.
Consumers are increasingly pulling back their spending following years of consistent price hikes and elevated borrowing costs brought on by the Federal Reserve’s interest rate hikes.
And what are some of the biggest things they are cutting back on? Well, fuel has an average national price of $3.668. Sure, that’s down from the high, but, it was $2.39 on Trump’s last day. It’s been high since the big spike last year, and had been trending up, with Biden doing more to harm prices that help. People have gotten used to high gas prices, so, are doing less travel.
Sales at general merchandise stores, which sell a broad range of items, fell 3 percent last month.
The report indicates a pullback in spending on pricier products. Sales of electronics and appliances plummeted 2.1 percent in March and 10.3 percent on the year. Furniture store sales fell 1.2 percent last month and declined 2.4 percent on the year.
Clothing store sales fell 1.7 percent in March. The industry had been propped up by luxury sales, but luxury clothing giant LVMH warned this week that U.S. demand is starting to soften after years of big spending.
Online sales are surging, because people are, for one thing, opting out of driving and ordering more online.
Of course, how much of the already high prices are being factored in? If prices fall 3%, but, they were already up 20%, does it matter? The roast beef lunch meat I used to buy at Lidl was about $6 before inflation. Now it’s almost $11. Microwave meals are up about 30%, cans of soup are up about 50 cents to a dollar. Ice cream is up about 30%. So many of the products I buy, or used to buy, are way up. So, I buy many less often.
Yet, the idiots will still support Biden and his Comrades.
What? Me worry?
That said, we are worried about the U.S.A., and the president, his advisors, and the Democratic Party
#LetsGoBrandon
Bwaha! Lolgfy
The world is worried about the USA. As it should be. We have a senile prolific liar installed as president who is at best a rabid socialist at worse a commie. His appointed bureaucrats are a plethora of weirdos, criminals, perverts, homos and spies. WTF?
Way too much lying to the American people. The SC leak over Roe, Epsteins customers, Hunters laptop and associates, the Las Vegas shooter, and so many other lies told to us that we are supposed to forget which is why the accomplices in the press ignore them in the hopes they just go away. Even the facts about the fake pandemic coming to light does not get any traction in the MSM just to cover sleepy joe.
What joe and the commie party has done to America in only two years is remarkable. Well, he did have help from his allies in Red China with the Flu and the generational brainwashing now coming to fruition throughout the republic oh! and the constant false labeling of the republic as a democracy just helps dumb down the democrats future supporters. Just a few million more illegal aliens sprinkled around the red states should turn them blue and insure the leftists of a solid one party state where they can keep their boots on our faces forever.
Then they can do for America what they’ve done for LA, Baltimore, St. Louis, Cleveland, Chicago, Detroit, and every other democommie run Sithole in America. Yay team!
‘Mr’ Teach typed:
“One Conspiracy to rule them all, One Conspiracy to find them, One Conspiracy to bring them all, and in the darkness bind them.”
The One True Conspiracy to rule all the conspiracies!!
Global warming – Control!
Inflation – Control!
Drag shows – Control!
Covid – Control!
Abortion – Control!
There exists a global cabal of elites led by a commission (Soros, Gates, Clintons, Rothschilds, Chicoms, Davos group et al) pulling the levels of power repeatedly creating government-based crises (global warming, oil shortages, ozone hole, acid rain, pandemics, nuclear proliferation, civil rights, recessions, mass shootings, World Wars, regional skirmishes) and then calling for One World Government type CONTROL of the people.
The ‘only’ answer is more CONTROL. It’s no accident that President Zelenskyy is Jewish. He was installed by the cabal to incite Russia to invade to further destabilize the globe. As is the Prime Minister of France. Soros. Rothschilds. Antony Blinken. Elena Kagan.
The Federal Reserve, currently engineering an economic recession, is dominated by Jews. This is the reason spending is slowing. It’s been mandated. CONTROL.
Thanks chubby!
Sometimes Rimjob gets it.
#PedosLiars&Rimjob
#Trump2024
Bwaha! Lolgf
You have finally posted a comment I can (mostly) agree with. Congratulations, you finally can see the damage democommie progroms are having on America. But somehow I think you only point them out to rub our noses in them. Anything that harms us, takes away our freedom, compromises our financial success or belittles our God is something you support. Disagreement will not be tolerated.
In fact over the entire course of human history only a few democratic republics have existed and they only existed for a few minutes of the millennia which is history. They have all crumbled into tyranny and it seems your goal is to insure we do too.
We’re hardly surprised that nuCons actually believe there’s a global cabal of Jews, Dems and commies whose objective is to subjugate you. I accidentally left out that you would include pedophiles in the cabal. It’s difficult to find anything too ridiculous for a nuCon to believe!
Did this same cabal rig the last election?
Not sure if you’re boycotting Anheuser-Busch products, but what do you think about conservatives who boycott products where the commercials feature a Black husband and white wife, or vice-versa? How about advertisements with obvious same-sex partners? Are those worth boycotting?
What do you think of capitalists promoting all this ‘unnaturalness’, ‘perversity’ and ‘sickness’? This would never occur in China, Russia, North Korea, Saudi Arabia or Iran!!
Seems Rimjob has transitioned into a chubby little Karen McKarenface.
What a whining biyatch!
#PedosLiars&Rimjob
#TranniesAreTerrorists
Bwaha! Lolgf
Who said anything about a cabal of Jews other than you? What is it about you that fills you with so much hate you actually project that hate on everyone who disagrees with you?
And yet it is you who desires, no demands complete control over all people. You who along with other petty despots who believe you are so right, always right, always superior that no other person, party or belief system should have self determination. YOU HAVE SPOKEN!
The real question here is what do YOU think of it? You know I disapprove so I guess we must assume you agree with this unnaturalness, perversity and sickness. But why? These things cannot be healthy for a person, family or society so why endorse that which is unwholesome and immoral? Why support things that lower the human condition and the value of life? I also couldn’t care less about China, Russia, North Korea SA or Iran and fail to see why you constantly compare us to them or any other country for that matter. Who gives a flyin fuk?
You care about everything but what is important, our national success for our posterity. You actually support degrading women with “dress up” men for no reason knowing full well the fukers are psychotic. Explain that.
It’s really unfathomable.
https://apis.mail.aol.com/ws/v3/mailboxes/@.id==VjN-M4-5PgqotnoXyh9vvSlNadLpqwQr4_owuRbzkwcuNe-oh8Elm-EjnJxo8eRO0aH5cJV5fB-58n-3JYhlz3uZgA/messages/@.id==AFeLjS1LL93WZDqtawmc8AnYHJQ/content/parts/@.id==2/thumbnail?appid=AolMailNorrin&downloadWhenThumbnailFails=true&pid=2
Dear Elwood:
Quit trying to change the subject. It’s just common sense that as prices rise people whose incomes do not also rise will purchase less.
That’s the basis for high fuel prices. Make EV’s look attractive and add tax credits as a boost.
From Mr H on February 16, 2023:
According to the Bureau of Labor Statistics, the Consumer Price Index increased 5.0% in March over March of 2022, while hourly earnings increased 4.2%, and the average workweek decreased 0.1 hour to 34.4 hours.
Of course, Mr H said that inflation will be offset by rising wages in three months, and it’s been only two months so far, but, unless I leave untimely for my eternal reward, I’ll be here a month from now with the next set of numbers, and it is my guess that, especially with OPEC+ having cut production, inflation will once again outpace wage gains.