Friday, May 30, 2008

Consumer Spending Disinformation

All the headlines today read; US income, spending up 0.2 percent in April. The the real headline started showing up later; Inflation Cancels Out Spending Rise. Let's add in the fact that the government doesn't include energy and food in most of it's figures. They say gasoline consumption is dropping. Some say 1-5% YOY. Well how much has the price risen? So all that money really went to fuel and discretionary dropped huh? That doesn't sound like spending is up to me.


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