"This nation is getting remarkably adept at turning its less affluent citizens upside down and shaking them, until literally every single cent falls out of their pockets. And then it induces them to take on debt so they can be shaken down some more."
Malcom McMichael
The 'better than expected' economic data this morning sparked a rally, that was then sold off, leaving the major indices red into the close.
How amazing that the backward looking data from this morning shows that Americans are spending more, near a record, and that spending is on recreation!
No wonder there is such job growth in the services, like bartenders and waitstaff.
Does this mean that the more than half of our citizens who are subsisting in poverty and food stamps are having a secret good time of it? Or that the government statistics and the economic models are a bunch of self-serving, cockeyed nonsense. No question mark on purpose, the question is rhetorical.
Let us bear in mind that for the privileged and the shameless, nothing is too low, or too ridiculous when faced with the alternative of surrendering their greatly undeserved advantages.
Have a pleasant weekend.
