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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Paul Kern who wrote (98059)	5/29/2009 8:50:26 AM
From: ajtj99	Read Replies (2) \| Respond to of 116555

How on earth can consumer spending be up 1.2% in the 1st quarter with stuff like this is what I want to know.

To: Paul Kern who wrote (98059)	5/30/2009 8:19:04 AM
From: Dan3	Read Replies (1) \| Respond to of 116555

Re: net take-home pay, which is defined as after-tax wages and salaries plus income tax refunds plus government tax credits and tax rebates, is down a staggering 16.3 percentage points y-o-y so far in May, compared to a decline of 4.3 percentage points y-o-y in the period of February through April 2009. It's almost impossibly bad, an order of magnitude worse than anything seen during the Great Depression - I think those numbers must have been skewed by the Bush Stimulus payments that came out last May It's still frightening. Not much else to say. Without those payments the financial collapse would have come months sooner.