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“Booming Economy”:One Third Of Americans Have Cut Their Spending In The Past Year

Mac Slavo
July 3rd, 2019
SHTFplan.com
Comments (12)

In the past year while we experienced a “booming economy”, one-third of Americans have cut their spending. For a country And for a country indoctrinated by a system that encourages spending and abhors savings, a survey by CNBC has shown that at least some people are willing to buck the propaganda.

The survey polled men and women across the country and looked at changes in people’s money behaviors. Many people are taking a critical look at their spending and preparing for all of life’s “what ifs”, the survey concluded. Personal responsibility might not be as “uncool” as previously assumed.

Spending versus saving habits were relatively equal across all the age groups polled. The 35 to 44-year-old age group showed higher levels of spending, which then moved back toward saving as people neared retirement. 63% of seniors described themselves as savers and 28% described themselves as spenders.

But the main takeaway from this survey was that one-third of Americans have cut their spending in the past year all while we are having a historic economic expansion, and this was all regardless of demographic. The survey concluded that those who have cut back have done so as a result of a loss of household income, new debt, fears of recessions, and medical expenses. All of which are responsible reasons to curtail excessive spending.

Two times as many Democrats as Republicans said they’d cut spending due to anxiety over the economy. Former FDIC chair Sheila Bair said: “I’m for anything that increases financial resilience. If you’re trying to do forecasting, it’s better to be on the conservative side and increase your cash reserves. Where’s the harm in that? Trying to predict the direction of the economy, though, might be a waste of resources. It’s like trying to time the stock market. You’ll never get it right.”

Individual observations can be meaningful, whether it’s a personal observation that the economy is booming — unemployment is low, the stock market is high — or that a recession is coming: the good times can’t last; we’re headed for a downturn. –CNBC

“There is some wisdom in the insights of people on the ground,” Bair said. “In their own spending and saving and work experiences day to day, people can sometimes pick up on (subtle) cues that may not be readily apparent in aggregate data.”

This is simply a matter of main street vs. Wall street.  Average Americans have yet to really feel this economic recovery in the same way Wall Street has.

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Author: Mac Slavo
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Date: July 3rd, 2019
Website: www.SHTFplan.com

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12 Comments...

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  1. boyo says:

    When the United States Invaded England
    A history pause and a good laugh.
    Be safe.

    https://www.youtube.com/watch?v=BusyV-NnPf4

  2. boyo says:

    y outube.com/watch?v=BusyV-NnPf4

  3. george says:

    good . when it hits two thirds the banksters will finally get the message .

  4. aljamo says:

    The United States of India seems more appropriate. But the cows don’t stand a chance here.

  5. The Deplorable Renegade says:

    I spend only what I consider necessary and that’s for preps. Never anything stupid or frivolous. My vehicles come from someone for cash only and never on credit. I always have something set aside for that ‘rainy day’. You just never know.

  6. Old Guy says:

    Heck over half of americans don’t work. they are parasites on the dole.

  7. Anonymous says:

    Confirmed: – – We have Definitly cut spending.- –
    No Eating Out. Poor food quality, poor service, cameras in your face and microphones EVERYWHERE, even on your table they now put electronic snoop devices in the open at Chili’s, Olive Garden, etc. “How can anyone have pleasant personal conversation?” Then the patrons continuously snapping cell phone pics, each other, food, You.. “NO WE DO NOT WANT TO BE ON YOUR FACEBOOK ! !.” (My wife and daughters are beautiful. I have actually caught waiters taking pics w/phones) WTF? This angers any father.

    Has this happened to you? Strangers and waiters taking pics?

    These eateries demand 20% tip for poor quality reheated microwave food, waitresses absorbed in thier cell phones, who get perturbed if required to refill a glass. 20% gratuity? (Church only asks 10% for God.) Eating out Cancelled.

    No StarBucks- They hire 10,000 muslims, want to be “inclusive” and be a bum hangout. Bums that oogle women. StarBucks is NOT safe for my wife and daughters. StarBucks cancelled.

    No NFL games. Jerry Jones/Cowboys took a knee to support “Black lives Matter” Murderers of Police. Protestors who are killers, rioters, burners. So we Canceled NFL tickets. We support honest Police, and don’t want extra work/risk, for Fireman. NFL cancelled.

    No Cable TV. NFL was my only television interest weekends. And the “news” is all lies and leftist. We don’t listen to leftie propaganda. Cable cancelled.

    No Dicks Sporting goods. They don’t support the 2nd. “Black Rifles SAVE Lives” when the entitled class Riot, Burn, Loot. Each of my family members are excellent shots. Young eyes of the girls put shots in tighter groups, at distance, than I do. Black Rifles Save Lives. Dicks Sporting Goods CANCELLED.

    So there are the ways we “cut spending”. We support Only Traditional American Values. “Take a knee and we cancel tickets.” No we don’t wear Nike. NFL and Nike CANCELLED.

    All that MONEY, is now available for important stuff, useful stuff. All that wasted TIME, is now available for important stuff, useful stuff.
    Buy a Grill. Buy Reload equip.
    Buy a fancy coffee maker. BIG Money saver long term. My Girls love it.
    Silver-Gold-always a good choice. JMbullion.
    Home gym workout now, instead of lounging, eating unhealthy snacks, watching knee taking, spoiled overpaid felons toss a football. Or the endless loop of made up “news”.

    Thank You Lefties. Thank you for saving us money. Thank you for better family time, better food, better coffee, better health, better choices.

    – – – Happy 4th of July to Everyone. Peace. Freedom. Liberty.
    We will go to the range to celebrate.

    • Get you a $30 ROKU X how many tvs you have.
      Best thing we ever did years ago. We only subscribe to Amazon because I get Amazon streaming movies with the free shipping for about $110??? a year!!!
      That’s $9 a month and we get Roku station free with limited ads when watching a movie.
      Gene watches westerns on YOUTUBE.

    • Anonymous says:

      It’s about time this post was made. Thanx Anom.

  8. As the article states, “one third of Americans have cut their spending”. I too have cut my spending. I stopped buying stupid or frivolous crap and focused my disposable income on lead, copper and brass items. Also, suitable and high quality spare containers for storing my lead, copper and brass. I can always find frivolous crap to buy later on.

  9. Anonymous says:

    Roger that!
    We boycott with our wallet everyday.
    And prep accordingly, $2000+ this week.

  10. The private bank ruling elites can cause inflation, depression, or allow prosperity. That’s a dangerous power.

    If 1/3 less spending, there is probably 1/3 less money to spend.

    Buy sugar and salt. Stock up. If there is war, or a financial crisis, the government usually rations these things.

    Buy pickled vegetables, or pickle raw fresh vegtables from your garden or the farm or supermarket. You can eat pickled vegetables right out of the jar, or rinse them in cold water and cook. A little butter not only tastes good, fat releases vitamins in vegetables.

    .