GINN ECONOMIC CONSULTING
  • Home
  • SERVICES
  • Media
  • RESEARCH
  • Speaking
  • Blog
  • About
  • Home
  • SERVICES
  • Media
  • RESEARCH
  • Speaking
  • Blog
  • About

Despite High Inflation, Americans Are Still Spending Like Crazy

3/7/2023

 
Picture
Despite the on-going, sky high, Biden-flation, American's are spending like crazy. And it's a little bit puzzling. But then again, it really isn't, because we want what we want when we want it, and we want it now!

"But that is gonna start to come to a halt very quickly, as inflation continues to take a bite out of their consumption habits" said Dr. Vance Ginn, president of Ginn economic consulting, "And part of the spending numbers that we see are really just from inflation. If you adjust a lot of these for inflation, we're actually seeing declining retail sales."

The other reality is, too many Americans are charging up their credit cards, and living beyond their means.

"A lot of people are also racking up a lot on their credit cards" Dr. Ginn told KTRH, "Credit card debt is up to a record high of over a trillion dollars across the economy, and we've seen that soar just over the last year."

And looking ahead to this year, the clock will eventually strike midnight, and the U.S. will officially be in another recession.

​Originally posted at KTRH News. 

Comments are closed.

    Vance Ginn, Ph.D.
    ​@LetPeopleProsper

    Vance Ginn, Ph.D., is President of Ginn Economic Consulting and collaborates with more than 20 free-market think tanks to let people prosper. Follow him on X: @vanceginn and subscribe to his newsletter: vanceginn.substack.com

    View my profile on LinkedIn

    Categories

    All
    Antitrust
    Banking
    Biden
    Book Reviews
    Budgets
    Capitalism
    Carbon Tax
    China
    Commentary
    Congress
    COVID
    Debt
    Economic Freedom
    Economy
    Education
    Energy Markets
    ESG
    Fed
    Free Trade
    Ginn Economic Brief
    Healthcare
    Housing
    Immigration
    Inflation
    Interview
    Jobs Report
    Kansas
    Let People Prosper
    Licensing
    Louisiana
    Medicaid
    Medicare
    Minimum Wage
    Occupational Licensing
    Pensions
    Policy Guide
    Poverty
    Price Control
    Property Taxes
    Regulation
    Research
    School Choice
    Socialism
    Speech
    Spending Limits
    Taxes
    Technology
    Testimony
    Texas
    This Week's Economy
    Transparency
    Trump

    RSS Feed

Proudly powered by Weebly