TRUMP SAYS: HUNTER MAKES FORTUNE FROM SHADY DEALS!
BIDEN FAMILY STINKS TO HIGH HEAVENS OF CORRUPTION!
DON'T GET LEFT OUT: HUNTER MUST BE STOPPED!
Another recession warning has surfaced. The wealthier Americans have cut back on their consumerism and spending, which could be a signal that the recession is right around the corner.
Many economists and analysts have said that the backbone of the American economy is the consumer. But according to CNBC, the wealthiest consumers have cut their spending while the middle class continues. The rich have cut their spending on everything from homes to jewelry and those personal spending cuts are sparking fears of a “trickle-down recession.” From real estate and retail stores to classic cars and art, the weakest segment of the American economy right now is the very top. While the middle class and broader consumer sections continue to spend, economists say the sudden pullback among the wealthy could cascade down to the rest of the economy and create a further drag on growth.
According to Redfin, sales of homes priced at $1.5 million or more fell 5% in the United States in the second quarter. Unsold mansions and penthouses are piling up across the country, especially in ritzy resort towns, with a nearly three-year supply of luxury listings in Aspen, Colorado, and the Hamptons in New York. The top income earners have cut back, either in preparation(to save more) or out of non-necessity, and perhaps it’s time others take notice.
Retailers to the 1% are faring the worst, with famed Barney’s filing for bankruptcy and Nordstrom posting three consecutive quarterly declines in revenue. Meanwhile, Wal-Mart and Target, which cater to the everyday consumer, are reporting stronger-than-expected traffic and growth.
At this month’s massive Pebble Beach car auctions, known for smashing price records, the most expensive cars faltered on the auction block. Less than half of the cars offered for $1 million or more were able to sell. But cars priced at under $75,000 sold quickly — many for far more than their estimates.
In the first half of 2019, art auction sales were down for the first time in years. Sales at Sotheby’s dropped 10% and Christie’s auction sales were down 22% from a year ago. –CNBC
The top 10% of earners account for nearly half of all consumer outlays, according to Mark Zandi, the chief economist at Moody’s Analytics. But their spending has fallen over the past two years, while spending for the middle class has accelerated. “If high-income consumers pull back any further on their spending, it will be a significant threat to the economic expansion,” Zandi said.
https://www.shtfplan.com/headline-news/the-next-economic-crisis-fuel-americans-over-burdened-by-debt_08272019
The savings of the rich has also exploded, more than doubling over the past two years, suggesting that the wealthy are hoarding cash. This is why they are wealthy and will remain so long after a recession. Perhaps we should all take a lesson from the rich and emulate them if we want to have a lot of money and financially survive the next recession.
The middle earners, or those in the 40% to 89.9% of the income distribution, have largely picked up the spending slack from the rich, whether they could afford to or not. “If job growth slows any further, unemployment will begin to rise, (the middle earners) will pack it in, resulting in an economic downturn,” Zandi said.
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https://www.youtube.com/watch?v=scg4tGpBXKc
Makes sense, why make a major purchase now when you can make a better buy later- example why buy a van now when you can get a RV home later.
I quite don’t understand this article and what that type of rich spending between the rich does for the common folk and economy. We all got to still live so who cares if they stop spending again how does that affect all of us? To me this article makes no sense.
Sam Adams, great name for comments here.
My answer to the relevance of “spending by the rich” is that the “rich” buy stuff that most of us don’t consider necessary, even if we could afford those items. Fancy cars, yachts, fancy furniture, and the many other products that might employ a guy like me. If they don’t spend – I get laid off, or downsized.
Watching CNBC when this segment aired. Robert Frank claimed $75,000 collector cars were “blue collar” type cars and not the type wealthy people buy. And Becky Quick chuckled and said $75,000 for a collector car didn’t sound too blue collar to her.
That’s right, Becky, you may earn millions of dollars a year now, but you still remember what blue collar means. Her father was a geologist who worked in the petroleum industry.
The Wealthy Aren’t Spending BAHAHAHAHAHAHAHAHA
I suppose the rich now to choose to live like the poor lazy morbidly obese bastards.
You hate the rich for being rich, you hate the rich when they stop spending. Why don’t you concentrate on your own fucking wallet?
This shtfplan site and it’s worst possible fucking advice to hoard cash like the rich; it should be DO NOT HOARD CASH!! It will be eaten away by inflation as the markets and national debt [along with the adult American waist size] WILL DOUBLE by 2029. As if the readers of this site have more than a pot to piss in.
CAN YOU fix that sloppy ad on this page, the big green box, it reads ” President Trump is Breaking Down the Neck of the Federal Reserve! ” Breaking down the neck??? Are you some sort of friend-zoned SJW gender#37 soyboy millennial?
You’re distracted, the real thing to focus on is why are you so fucking screwed but are fat and happy watching a bunch of out-of-state multi-millionaire panzies in leotards play meaningless games?
I suppose Peeder Schitt will be the next story here.
Anonymous, if you don’t like this site why do you keep coming here?
The Wealthy Aren’t Spending BAHAHAHAHAHAHAHAHA
I suppose the rich now to choose to live like the poor lazy morbidly obese bastards.
You hate the rich for being rich, you hate the rich when they stop spending. Why don’t you concentrate on your own ‘frolicking’ wallet?
This shtfplan site and it’s worst possible fucking advice to hoard cash like the rich; it should be DO NOT HOARD CASH!! It will be eaten away by inflation as the markets and national debt [along with the adult American waist size] WILL DOUBLE by 2029. As if the readers of this site have more than a pot to pedder schitt in.
CAN YOU fix that sloppy ad on this page, the big green box, it reads ” President Trump is Breaking Down the Neck of the Federal Reserve! ” Breaking down the neck??? Are you some sort of friend-zoned SJW gender#37 soyboy millennial?
You’re distracted, the real thing to focus on is why are you so flipping screwed but are fat and happy watching a bunch of out-of-state multi-millionaire purinas in leotards play meaningless games?
I suppose Peeder Schitt will be the next story here.
And maybe some of them aren’t as rich as they portray.
We are at the lowest unemployment in decades (according to our govt, pff). We are in a great economy and bull market, according to DJT yet GDP growth is a paltry 2.8%. Can you imagine if a democrat with onerous new regulations that stifle business gets in. Or if a dem allows for every lazy fat fucker to receive $1,000 a month. Or if a dem allows higher taxes on the working class (you dod realize a family of 4 making over $56,000 annually is who they call the rich , look it up dumbasses). Or if a dem makes you pay to breath or for every mile driven with with their new green deal to tax carbon (you are made of carbon and expel carbon dioxide you fools, sure tax yourselves into slavery you idiots). Or if a dem allows everyone to have free speech as long as you agree with their narratives.
Yeah, if this is as good as it gets we are totally screwed without jelly when DJT is gone and his barely better than the dems, barely. They will force gun control because they see the end id nigh and cant have you all empowered now can they……
The rich own most businesses. nobody ever worked for a poor man. When companies go out of business or sold to foreign competitors (us) loses our jobs and can’t buy anything and tax dollars are routed to paying unemployment. Its like a stone thrown in water…it has a ripple effect. A good reason to keep stacking.
Jim in VA. I went into town Sat. and brought home another truckload of supplies. I’m still stacking regardless.
OFF TOPIC: I am going to try to share prepping tips that I find in my travels through the internet. I recently discovered something that I have NOT previously seen ANYWHERE!
Do you have a Gas Mask that has a 40 MM thread? Do you also have 3M Proprietary Filters? Now you can attach 3m commercial filters to masks using 40mm threads!! Be the envy of your prepper “friends”, by buying this incredible 3M attachment. As they are suffering a horrible death because they have run out of 40 MM Filters, you will be sitting pretty! BUY NOW!
3M 701 Black/Orange Filter Adapter – 051138-29113 [PRICE is per BAG of 2] $14.30.
h ttps://www.amazon.com/gp/product/B004RH1RXG/ref=ppx_yo_dt_b_asin_title_o05_s00?ie=UTF8&psc=1
Thanks Justice, I’ll check them out. I’m sure they’re better filters than the ones that came through with the masks.
In industrial use, you are supposed to use a formal means of odor / vapor / chemical detection, because every substance will damage your filters at a specific rate, requiring them to be replaced. OSHA charts a schedule, via computer.
What do you believe is the period of effective use, based on different emergencies, you might face as a prepper?
Excellent question Clown World. I have asked myself the same question and I haven’t seen a good answer yet.
I know that I am relatively close to DC so I will er on the side of caution. I will try to rely on the quality 40 MM NATO filters at first, then transition to 3M Filters as needed. Consequently, I have a lot of filters.
It’s on a chart.
I feel that, you have this thing stuck on your face, tight. You are breathing through it, I bet, uncomfortably. How can you tell when it just quit working, in a cloud of noxious fumes? Then, what do you with it.
If you want to assume a perfect, theoretical universe, on a clean sheet of paper, like it’s a math problem, and everything goes by the math…
Look up each potential hazard, ahead of time, if humanly possible.
Most of these articles, in most of these feeds, seem internally-inconsistent, as though they have been copied-and-pasted, in the form of madlibs:
“Perhaps we should all take a lesson from the rich and emulate them if we want to have a lot of money and financially survive the next recession.”
“(the middle earners) will pack it in”
* Perhaps we should all take a lesson from the middle earners and emulate them?
This was consistent (redundant):
“If job growth slows any further, unemployment will begin to rise”
Where should a speculator place his money, assuming that this follows the same basic rules as a Ponzi scheme, in which more participators leads to more value, for those who sell out, first.
“The top 10% of earners account for nearly half of all consumer outlays..”
Outlays on what.
What is their industry, where they become the top 10% of earners.
“…spending for the middle class has accelerated.”
Spending on what.
“(the middle earners) will pack it in”
What is their industry, where they pack it in.
“…the wealthy are hoarding cash…”
You are measuring recession, in terms of liquidity, or dollars in play, or market participation, or movement for the sake of movement — not based on spending power of the dollars being hoarded.
You have not shown us, here, that the value of any particular product has appreciated, relative to the rate of inflation.
Am I just being charitable, with my time, here, or was this a productive thing to read, according to any metric you can show me, simply.
(Pardon my grammar, above. No edit function is allowed on this platform.)
De-motivational cartoon is crudely describing a mathematical concept:
youtube.com/watch?v=zVJuC3BEOGg
Disparate talking points and data sets. Interest raised on good news, lowered on bad news. Affirmative action for degenerates and reprobates. Demotions for the capable.
Easy formula… Rich are generally the employers… They decide to stop spending and it translates into limiting taking risks at the business they run. The hit the brakes and unemployment begins to rise.
As long as these rich people spend their money in the USA on American maid stuff , we will all be fine
Almost all of the comments miss the real important point. The economy is not controlled by consumers, it is controlled by interest rates and supply of money. How many people know who controls interest rates and money supply. The Fed. Res., which is a private entity does. Their charter states it was formed to regulate the nation’s money, interest rates, and business cycles. They have failed spectacularly. Since the creation of the Fed. in 1913 the dollar has lost more than 98 % of its value. Since 1913 we have had many periods of boom and bust including a Great Depression (it is highly probable we will have another one – worst than the last). Guess when the income tax was made permanently into law – 1913.
No private central bank is necessary, Congress is already empowered to have control money and currency, and they don’t have to pay someone to do it, they don’t have to pay interest to anyone to do so.
Since 1913 a large reason why gov’t debt has exploded is because Congress abandoned their Constitutional duties of regulating money and minting/printing of money, and literally handed all of it over to a secretive private organization, who by the way, has the sole exception not to be audited. The Fed. creates money from absolutely nothing, then loans it to gov’t in return for fees and interest. In reality, the debt can never be paid back because it would absorb every dollar in existence, which in turn require even more dollars to be loaned into existence with interest so on. These dollars, created are from absolutely nothing – loaned into existence, have no value whatsoever except what the Fed. says it does.
The nation’s money, money supply, fiscal policy, finances, etc. is controlled by a small handful of bankers, money-changers, and private individuals who drain the wealth of our nation and give in return vast debt. They are a parasitic entity sapping the life from its host.
We are constantly involved in wars and an ongoing parade of never-ending newly officially created enemies and hobgoblins, with a Mil. / Ind. / Sec. Complex calling for TRILLIONS of dollars. There is no way this is paid for with collected tax money, it is paid for by more borrowing and debt.
The ONLY way to stop all this is to end the Fed., otherwise, the borrowers will be slaves to the lenders. A default is in order, with Congress assuming their legal duties. The national debt is more than 22 trillion, state and local debt is trillions more, all unpayable. Unfunded fed. gov’t liabilities are at least another 170 trillion. It is totally untenable, the well is dry.
Many wealthy people, institutions, organizations, and businesses prefer socialism for the masses; for many reasons. At sometime you may have heard someone say it would be nice if everyone was rich. This is inept thinking, if everyone was rich, no one would be rich. The wealthy absolutely do not want too many rich people because that would dilute their own wealth, privilege, and power.
A second reason why these same entities frequently prefer socialism is that they feed at lucrative gov’t troughs, and receive excessive profits, courtesy of the tax payers.
A third reason is when large institutions and businesses fail the taxpayers are forced to subsidize them because they are frequently labeled “too large to fail”, and therefore losses are socialized, but of course profits always stay private.
Banks have been bailed out at public expense to the tune of many Trillions of dollars; the Mil. Ind. Sec. Complex requires hundreds of billions every year, lobbyists ensure gov’t is throwing unknowable vast sums of money to the special interests they represent, and on and on. All on the taxpayers dime.
Yet there is only pennies in gov’t agency funds to insure the general citizen’s pension funds and citizen’s bank accounts. Why do we we keep hearing “gov’t of the people, by the people, and for the people”; this is a farce of the highest order. The middle class is taking it in up the *ss. There is no doubt there is a plan to eliminate the middle class, leaving mostly poor, with a wealthy “elite”.
The best way to sum up socialism is that it is LEGAL plunder, and it demands a monopoly on all political and institutional power, including allocation of wealth and resources. Gov’t and corporate interests prefer it that way, they have monopolies of power and profits. They do not fear any retribution because in this case the courts, police, and prisons, and all of officialdom is called upon to enforce these monopolies.
To ensure TPTB maintain their grip on power, individual rights must be limited or even stripped. And laws have to be made for TPTB to get away with all this, don’t forget to thank your representatives for their cooperation.