Reply to Why does it feel like people have unlimited budgets, even with crazy inflation?

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Reply to "Why does it feel like people have unlimited budgets, even with crazy inflation?"

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[quote=Anonymous][quote=Anonymous][b]Going by the data, inflation is a real concern for most Americans. Most people's incomes haven't kept up with inflation so real buying powers have declined. Contrary to what a poster said on the first page, not everyone got massive salary increases. 5% each year is more typical, but that doesn't keep up with inflation.[/b]

There's already economic data showing the inflationary bites leading to slowing consumer spending. Quite often it takes a while for that to catch up with people. CC debts are increasing, car reposessions are increasing, housing sales are down in volume, and not just because of a shortage of inventory.

We could be singing a different song by end of year. But I do think your concerns reflect that America is moving towards haves and have nots. That's been the case for a long time. Inflation is manageable for the haves. The have nots are starting to struggle. [/quote]

+100

This is one of the biggest bullshit DCUM myths out there, that everyone just got massive pay raises during Covid (one poster above said 40%).  If you got that, great for you. But the data shows that real incomes (i.e., after adjusting for inflation) for most people just keep going DOWN month after month after month.[/quote]

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