Posted on Jun 13, 2018
Ben Bernanke: Economy Is Headed 'Off The Cliff'
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"There is a stealth [economic] slowdown already happening," as Lakshman Achuthan, co-founder of the Economic Cycle Research Institute, told CNBC on May 21. "Since late last year, consumer spending growth has been easing, as has personal income growth," he said. But he also finds that "Spending is outpacing income growth," meaning that consumers are piling up debt and thus will get squeezed by rising interest rates. Stephanie Pomboy, founder of economic research firm Macromavens, warned earlier this year that exploding household debt presents a key risk for the economy and the stock market."
Ben Bernanke: Economy Is Headed 'Off The Cliff'
Posted from investopedia.com
Finance
Economy
Posted >1 y ago
Responses: 7
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MSgt Ken "Airsoldier" Collins-Hardy Well, Intuit is doing their part to discourage credit spending by refusing to allow their services in support of our 2nd Amendment rights. Not withstanding my snarky comment though, I found that the economic statistics are so very full of opportunity for spin and distortion that the average finance professional cannot really interpret it correctly. Add to that the fact that everyone wants to spin the data depending on the picture they wish to paint, and the average Joe in America really cannot decipher the truth. I am certainly no expert! My gauge, how is my retirement portfolio doing? How is my paycheck holding up? What are gas prices where I live? As long as I see positive numbers across my data set, I am not worried.
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MSgt Ken "Airsoldier" Collins-Hardy
MSgt Stephen Council – This is a very informative share, Greg. Please add/cite a reference for the RP family at your earliest convenience. Thanks in advance, my friend.
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MSgt Ken "Airsoldier" Collins-Hardy
MSgt Stephen Council – Greg, I was curious about Intuit so I did a simple Google search, which SERPed (Search Engine Results Page) this article. Is this the same Intuit, Greg? https://www.westernjournal.com/ct/credit-company-launches-attack-on-gun-lovers-refuses-to-process-orders-in-gun-related-purchases/
Credit Company Launches Attack on Gun Lovers, Refuses To Process Orders in Gun-Related Purchases
They might be regretting this badly...
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MSgt Stephen Council
Well, I just followed the reference that the original poster cited/posted. Your references article that I replied to is the right one. I am working front to back in my email so I answered them in reverse order.
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Economic indicators can be twisted to show whatever the author, speaker, or expert wants them to.
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Pay off your mortgage, vehicles, credit cards...household debt "presents a key risk for the economy and the stock market." Really...
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MSgt Stephen Council
SPC Sheila Lewis My point exactly. There is Truth, there are lies, and then there are statistics, and statistics can be twisted according to the message that person wants to portray. I do not claim to be anywhere near an expert on the big picture financial world. The honorable Tip O'Neill once said "all politics is local". I actually believe this, but I define local VERY specifically: What impacts my life directly. That is my definition of local. I live my life and I vote on that basis. Please do not mistake that to mean that I am a hard hearted and uncaring conservative. While I do identify my politics and financial approach as conservative, my charitable activities and my donations go toward things that I personally can have true impact with. I will not let a friend go hungry, but, I will not give a dollar to that beggar on the corner. I donate in my faith organizations and help with money and personal labor. That again reflects my definition of local. Oaky, this turned into a diatribe, and I apologize.
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