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Monday, October 29, 2012

Back against the Wall consumers spending their meager savings to buy food and gas: Market rejoices!

Editor's Note: Even as the US (and Global) consumer finds himself with his back flat against the wall of declining incomes and rising prices, and as most of the increase in consumer spending comes from rising gas and energy prices, Wall Street rejoices and pretends that the great American consumer has returned in force; the blind as a mole Mainstream Media spins the report like it is good news that savings are almost zero and soon to go negative again! O what a tangled web we weave when first we practice to deceive! And the Media and Wall Street and Politicians need not practice how to deceive any longer, they are the Grandmasters of deceit like their father the devil who comes not but to Steal, and to Kill, and to Destroy! The world is being destroyed right before our eyes but the masses will only wake up when their world lies in ruins all around them. Let them not claim that they never saw it coming for this ruin has been seen coming for decades if not longer! And what a coincidence that in the past few weeks, just before the election, all the Economic numbers have turned solidly positive; I would be very skeptical of these reported numbers for they are prone to be just as fake as the Economic Recovery that is being touted by the Mainstream Media!
The Commerce Department said on Monday consumer spending rose 0.8 percent, the largest increase since February, after an unrevised 0.5 percent gain in August. (Reuters) - Consumer spending rose solidly in September as households stepped up purchases on automobiles and a range of other goods, but the increase came at the expense of savings.
Economists polled by Reuters had expected spending, which accounts for about 70 percent of U.S. economic activity to increase 0.6 percent in September.
When adjusted for inflation, consumer spending increased 0.4 percent after edging up 0.1 percent the prior month.
Financial markets showed little reaction to the data. U.S. stock markets will be closed on Monday, and possibly on Tuesday, as a mammoth storm threatens the U.S. East Coast.

Continue Reading: Consumer spending rises, but saving slows | Reuters

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