If you believe that "life, liberty and the pursuit of happiness" is why you're on this planet (which I do), then you'll see why the chart below is representing your feelings of this economy probably better than any other chart has. Disposable income has taken its largest hit/decline since the data has been recorded. Even WORSE than the Volcker Recession, which is why (though in terms of GDP this recession is not quite as bad as the 1979-1983 recession) this one feels worse:
But then again, the founding fathers didn't want you to have fun. They wanted you to pay taxes, bloated health insurance premiums, and food, clothing and shelter for economic deadbeats and their children. So you should be happy that chart shows the worst decline in disposable income since the data has been recorded. Money is bad, which is why everybody is altruistic in wanting to take yours from you.
6 comments:
How does debt factor into disposable income? It is no secret that many Americans were cashing in on their'savings' via equity from their homes.
Now top that off with some dollar devaluation, and you really have a party on your hands.
All the massive Fed dollar printings, is just starting to come home to roost. People are blaming the oil companies for higher gas prices. But what is actually happening, is a decline in the dollars value.
So people have less disposable income, and their money is loosing purchasing power.That my friends, is a bad combination.
holy crap batman! I thought it was just me struggling!
Hope and Change
Malevolent marxists are winning. And they have violence on their side too. Because they 'care'.
Wow, the Internet bubble recession saw no drop in disposable income.
I imagine the breakup of the American family into single mothers raising kids and child support slaves has had an impact on disposable income. One household has much lower cost than two households.
Recent news posted in Fox Business News showed the decline in household income. You should watch the video, Household Income Declines, posted by Ed Butowsky
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