Record Holiday shopping spending

Record breaking Thanksgiving Day purchases

Record breaking Black Friday Purchases

Record breaking Cyber Monday purchases

Our consumer based economy is breaking all records for consuming this holiday season.

I'm so glad Trump is going to rescue us from this miserable economic rut we've found overselves in 

Makes sense to buy as much stuff as you can now, before Trumpflation turns our dollars to toilet tissue.

I only wish there was some way to buy perishable goods, like food, in advance, or pay for 5000 gallons of gas before the price skyrockets. But the one thing I can do for myself now is to buy a bunch of updated electronics, before a Samsung Shitphone or a big-screen TV costs $2000.

In point of fact, the primary strategy to combat impending inflation is to divest yourself of dollars and buy "hard goods," property, or precious metals. You also want to put yourself in as much debt as possible--you'll be paying it back with near-worthless money.

Hedonistic Tom must be at it again.

As long as we're presenting stats, Americans total credit card balance is $1.16 trillion at the end of the 3rd quarter of 2024 and represents the highest balance since the NY Fed began tracking in 1999. CC balances have risen by $396 B since the first quarter of 2021 when this debt had bottomed out at $770 B during the pandemic. This debt increased $24B from 2nd qtr 2024 stats.  I'm wondering if these are 'good' stats or 'bad' stats reflective of the economy that PJ referred to? Or is it just stupid money management skills? Or just plain stupid? Somebody might be on drugs ( or needs to be), maybe? More cocaine found in the open at the White House? Somebody or some group actually financing the promised A's baseball stadium in Vegas ( now there's a group that needs some good drugs)?

Supply shocks? Demand shocks? Monetary policies? Wage-price spirals? Too much money chasing too few goods? Government borrowing / money printing? OMG, multifaceted reasons? You tell me.

https://www.lendingtree.com/credit-cards/study/credit-card-debt-statistics

lol.  Obviously consumer sentiment has turned around because Trump won.  As measured by the UofM survey it jumped close to 2% in November.  Thanks President Trump! 

Unfortunately, it's still close to 10% below the day Biden and the Democrats took over Congress and the White House back in 2021.  Thanks for nothing Democrats!

Ok.  That might be a little sarcasm, but since PJ pulled a statistic from the Department of Stupid Statistics...It's important to note that holiday sales have actually increased in the US EVERY YEAR for the last 20 years except for the 2008 recession year.  Yay!   We're setting new records....every year for 20 years!. Is that all you got?

        PJ ALWAYS utilizes half-truths in his postings. He thinks he is slick, when in reality he is devious and patronizing. 

Yep, gonna get an iPhone 16 pro max before the Trump tax kicks in.  Visible will give you a $250 gift card for doing so.

And dont forget - a Record number of 401k Millionaires in the US

It makes sense credit card debt went up.   The economy is no longer closed like it was at the end of the Trump Administration....and people are no longer getting checks from the government to supplement their income.    Nines notes that in such an environment people are spending more with less income?     I would certainly hope so.   Thank you, Captain obvious !

But the record spending flies in the face of those who say "we cant afford to buy anything anymore".    America is buying quite a lot.   

But tell ya what - lets take a snapshot now of GDP growth, unemployment levels, inflation, stock market growth,  national debt and compare it to 4 years from now.    Republican pundits  are already making excuses as to why Trump is going to fail again.

  Same old lying shit - never ceases from a lying liberal.

Not the record that pj claimed.

An estimated 197 million people shopped from Thanksgiving to Cyber Monday, according an estimate from the National Retail Federation and Prosper Insights & Analytics. This year’s figure, which includes both in-store and online shoppers, is 1.7% lower than last year’s record of 200.4 million.

Shoppers during the five-day period purchased gifts, spending $235 — or $8 more than 2023 — on average.

Less shoppers than last year and spent $8 more than last year; about the rate of inflation.  With 1 less week to shop less people shopped (not a record) and essentially bought the same amount of product.

It makes sense credit card debt went up.

People allowing credit cards debt to pile up at 20+% interest rates when it would be more efficient to pay cash is not a good thing.