Busting the myth of consumer economy

[justoffal]

Over the past several years government agencies have propagandaized and falsely stated sunshine and flowers about the kitchen table economyol of the average American.

Citing consumer spending numbers in an effort to paint a rosy picture on the face of the pig.

So where did all this spending come from?

Here is your consumer economy:

https://moneywise.com/managing-money/debt/us-credit-card-debt-just-hit-a-new-record-of-117-trillion

 

[shockedcanadian]

Over the past several years government agencies have propagandaized and falsely stated sunshine and flowers about the kitchen table economyol of the average American.

Citing consumer spending numbers in an effort to paint a rosy picture on the face of the pig.

So where did all this spending come from?

Here is your consumer economy:

https://moneywise.com/managing-money/debt/us-credit-card-debt-just-hit-a-new-record-of-117-trillion

This is all a result of the government essentially passing on costs to consumers via inflation. The inflation generated by excess spending and really taxpayer subsidies to companies when they hire illegal immigrants. It's a double edged sword a lose/lose situation and the tradeoff was never going to be worth it. So now, the world relies on debt.

China, Russia and Germany generally have the highest trade surpluses in the world. Chinese citizens are notorious for saving money and NOT relying on debt while Western citizens are drowning in such debt.

 

[justoffal]

This is all a result of the government essentially passing on costs to consumers via inflation. The inflation generated by excess spending and really taxpayer subsidies to companies when they hire illegal immigrants. It's a double edged sword a lose/lose situation and the tradeoff was never going to be worth it. So now, the world relies on debt.

China, Russia and Germany generally have the highest trade surpluses in the world. Chinese citizens are notorious for saving money and NOT relying on debt while Western citizens are drowning in such debt.

Yes that is a major virtue of the Asian cultures in general. I have had many Asian neighbors and I marvel at how well they manage their money.

 

[Moonglow]

Over the past several years government agencies have propagandaized and falsely stated sunshine and flowers about the kitchen table economyol of the average American.

Citing consumer spending numbers in an effort to paint a rosy picture on the face of the pig.

So where did all this spending come from?

Here is your consumer economy:

https://moneywise.com/managing-money/debt/us-credit-card-debt-just-hit-a-new-record-of-117-trillion

And under Trump it continues.

 

[Moonglow]

Yes that is a major virtue of the Asian cultures in general. I have had many Asian neighbors and I marvel at how well they manage their money.

If you want to compete, I suggest you get used to working for pennies on the dollar.

 

[sparky]

so we're a debt driven economy now? ~S~

 

[initforme]

Wages are way too low for average working paycheck to paycheck people which is probably close to 90 percent. People tell them ' ah just save more' when the wages don't allow for saving. This is a way of keeping them in the workforce at a time when we need less people in the workforce.

 

[Moonglow]

The billionaires want to be trillionaires, when is enough, enough?

 

[justoffal]

If you want to compete, I suggest you get used to working for pennies on the dollar.

Good point.....

And that in a nutshell is why China is such an industrial powerhouse. Even though the workers there have experienced some wage increases, the fact of the matter is that China extracts more work per man hour than just about any other place on Earth. Other countries are now showing themselves to be similar. The ultimate currency above and beyond all other currencies is the man-hour.

 

[justoffal]

The billionaires want to be trillionaires, when is enough, enough?

Sigh.... Yes another very good point.

 

[justoffal]

so we're a debt driven economy now? ~S~

So it would seem

 

[Moonglow]

Good point.....

And that in a nutshell is why China is such an industrial powerhouse. Even though the workers there have experienced some wage increases, the fact of the matter is that China extracts more work per man hour than just about any other place on Earth. Other countries are now showing themselves to be similar. The ultimate currency above and beyond all other currencies is the man-hour.

The US is the most efficient manufacturer in the world thanks to automation.

 

[justoffal]

The US is the most efficient manufacturer in the world thanks to robotics.

Well that does provide some light at the end of the tunnel indeed!

 

[Moonglow]

When is it more important to make a buck when the common human suffers from not getting to share in the rewards of the materials used to exist?

 

[justoffal]

And under Trump it continues.

Yeah that's probably not going to change.

 

[Moonglow]

Yeah that's probably not going to change.

The economy is closer to a game of three card monte.

 

[justoffal]

The economy is closer to a game of three card monte.

Lol..... geezus.... That's some scary shit.

 

[Moonglow]

Lol..... geezus.... That's some scary shit.

I was self-employed for thirty years and there is no given that you will succeed with hard work.