Personal Income and Outlays
The BEA’s Personal Income and Outlays report for November shows a second decline in income.
- Personal income decreased $221.8 billion (1.1 percent) in November.
- Disposable personal income (DPI) decreased $218.0 billion (1.2 percent).
- Personal consumption expenditures (PCE) decreased $63.3 billion (0.4 percent).
- Real DPI decreased 1.3 percent in November and Real PCE decreased 0.4 percent.
- The PCE price index had no change.
- Excluding food and energy, the PCE price index had no change.
Personal Consumption Expenditures (PCE) have almost recovered to pre-pandemic levels but has essentially been flat for many months.
More Free Money?
That’s the current debate isn’t it?
Curiously, AOC Agrees With Trump’s Request to Send $2,000 Free Money to Everyone
One astute reader noted that is backwards. Trump now agrees with AOC.
Mish
Get out of dollars, and dollar-denominated investments. A dollar collapse is dead ahead.
It’s the perfect storm for the PM sector, and Silver in particular.
Dollar collapse…..could be, but I sure wouldn’t bet the farm on it. Personally I’d be surprised to see the DXY break 80 to the downside.
Nice thing about silver, those 100 oz bars make excellent door stops.
Go ahead and send the wife and I 2k each. I’ll drop it off at the courthouse for property tax. The government giveth the government taketh away.
At this moment in time, they should be handing out the free money. And yes, a bit more for those near the bottom would be a good idea.
Check out the COVID numbers….we’re looking a little better right now overall, but we’re still at a very high level of new infections…..and we could even have another, bigger wave coming..
Hopefully the treatment breakthroughs will filter out to those taking care of patients. It isn’t coming down from the top. They’re too busy patting themselves on the back for a vaccine that is in such short supply almost nobody can get it. Apparently both Iota Carrageenan and Ivermectin are the real deal….not that American Big Pharma cares, since there is no money to made from them.
Meanwhile, it’s Christmas, and many people I see out and about are being less careful than they were 3 months ago. Christmas socializing will cause a spike. I’d bet on that…just not sure how bad it will be.
As far as i’m concerned, they’ve decimated entire cities with lockdowns and BS orders and they can pay for it. Every dollar in that BS bill needs to be averted from anything outside of US borders and given to the people in either cash or some other benefit to them. All these overseas pet projects need to come to an abrupt end now.
All the pork you’e talking about is part of the Omnibus, not the COVID relief legislation.
No doubt there is pork in the CR bill too, but THAT pork will go to elites and insiders , just like it did in the spring 2020 bill.
Free money is only a cure if private sector employers refuse to hire the unemployed and give the employed pay raises. What other options are there? A long deflation into poverty? For thee or me?
Holzheimer even flaunted this practice publicly on his Facebook page.”
Income drops ..lol …Holzheimer even flaunted this practice publicly on his Facebook page.”
December’s personal income should be even lower since quarantine shutdowns have increased. January is also major lull in retail, and seasonal workers are let go; so initial unemployment claims should continue to rise / personal income decrease.
It is said that everyone has their price. Some people are just more economical than others, I suppose.
It’s a funny thing, all this clamoring to push ~$1,000 back to a group of taxpayers again, but reducing or eliminating the taxes on earning a wage is a non-starter, politically.
If the choice is $600 or $2000, I’ll take the $2000. Everyone else is raking in the $$$!
An Incomprehensive List of Spending Bill Nonsense
– December 23, 2020
It’s not a cure, but it’s a treatment for “death by lack of groceries”, or the alternative “collapse of civilization brought on by starving people”
More free money is not the answer, but, it is what will continue, with this broken system that they embrace. Expect more payouts semi annually. Got Gold?
Without increase in personal income or lending by banks, there is not going to be inflation.
You don’t think the $120 billion a month (from US Fed alone) counts as “lending by banks?”
Gold Eagles for everyone. End The Fed.
my calculation shows our country is short 1191 metric tons, so we will have to reduce that to the poorest 286,802,112 people.