{"id":7222,"date":"2015-04-11T06:37:02","date_gmt":"2015-04-11T11:37:02","guid":{"rendered":"http:\/\/olduvai.ca\/?p=7222"},"modified":"2015-04-11T06:37:02","modified_gmt":"2015-04-11T11:37:02","slug":"the-american-consumer-will-never-be-back","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=7222","title":{"rendered":"The American Consumer Will Never Be Back"},"content":{"rendered":"<h3 class=\"posttitle\"><a class=\"entry-title\" title=\"The American Consumer Will Never Be Back\" href=\"http:\/\/www.theautomaticearth.com\/2015\/04\/the-american-consumer-will-never-be-back\/\" rel=\"bookmark\">The American Consumer Will Never Be Back<\/a><\/h3>\n<p>That title may be a bit much, granted, because never is a very long time. I might instead have said \u201cThe American Consumer Won\u2019t Be Back For A Very Long Time\u201d. Still, I simply don\u2019t see any time in the future that would see Americans start spending again at a rate anywhere near what would be required for an economic recovery. Looks pretty infinity and beyond to me.<\/p>\n<p>However, that is by no means a generally accepted point of view in the financial press. There\u2019s reality, and then there\u2019s whatever it is they\u2019re smoking, and never the twain shall meet. Admittedly, my title may be a bit provocative, but in my view not nearly as provocative, if not offensive, as Peter Coy\u2019s at Bloomberg, who named his latest effort \u201cUS Consumers Will Open Their Wallets Soon Enough\u201d.<\/p>\n<p>I know, sometimes they make it just too easy to whackamole \u2018em down and into the ground. But even then, these issues must be addressed time and again until people begin to understand, and quit making the wrong decisions for the wrong reasons. People have a right to know what\u2019s truly happening to their lives, and their societies. And they\u2019re not nearly getting enough of it through the \u2018official\u2019 press. So here goes nothing:<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"http:\/\/www.bloomberg.com\/news\/articles\/2015-04-09\/u-s-consumer-spending-will-rise-again-soon-enough\" target=\"new\">US Consumers Will Open Their Wallets Soon Enough<\/a><\/p>\n<blockquote><p><i>People are constantly exhorted to save, but as soon as they do, economists pop up to complain they aren\u2019t spending enough to keep the economy growing. A new blogger named Ben Bernanke wrote on April 1 that there\u2019s still a \u201cglobal savings glut.\u201d Two days later the Bureau of Labor Statistics announced the weakest job growth since 2013, which economists quickly attributed to soft consumer spending.<\/i><\/p><\/blockquote>\n<p>&nbsp;<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The American Consumer Will Never Be Back That title may be a bit much, granted, because never is a very long time. I might instead have said \u201cThe American Consumer Won\u2019t Be Back For A Very Long Time\u201d. Still, I simply don\u2019t see any time in the future that would see Americans start spending again [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[4725,83,3279,240,512,655],"class_list":["post-7222","post","type-post","status-publish","format-standard","hentry","category-economics","tag-american-consumer","tag-bloomberg","tag-bureau-of-labor-statistics","tag-economic-growth","tag-media","tag-propaganda"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/7222","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7222"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/7222\/revisions"}],"predecessor-version":[{"id":7223,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/7222\/revisions\/7223"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}