July 16, 2022

Consumer Confidence Cratering



Stick a fork in them they're done. 

In yet another sign that the desire and/or ability to shop is waning, "consumer confidence" has reached the lowest point since record keeping began in the US 56 years ago. It is the same in other consumer nations.

That is a record low, folks. Like everything else, consumerism is falling apart, as it had to eventually. You can't live 2-planet lifestyles forever when you only have one planet.

Consumers are tapped out, and have been for a long time. The only thing that kept the shopping going was gorging on credit (also at record levels), and it should have been known that the whole credit thing wouldn't end well either.

First we were called workers, then citizens, and finally, consumers. 

Now we are being forced into a new category - "survivors". 

It doesn't matter how good the sales are on things we don't need, there isn't enough money left over after essentials are bought. 

Maybe not enough money for essentials either. 

They would pick up pennies... if there still were pennies.

Good bye consumerism. 

Hello to whatever replaces it.

Walden 2.0 perhaps.






8 comments:

  1. Please universe, let us move on from the era of acquiring for the sake of acquiring. From stripping the planet for the sake of this year's model.

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    1. Anonymous4:23 PM

      The People are breaking out of their trance. A new, more simple, more just world is on the way. I can hear it coming!

      - Gregg

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  2. I had a conversation this week with my hairdresser when he asked me about my job. I told him now that we are debt free I don't really think about it anymore because I know I don't HAVE to be there. He asked a lot of questions and said he would love to do that. But then he told me of the Disney cruise he was taking his family on and that it cost $12,000.00. Unbelievable!!

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    1. Anonymous1:07 PM

      Debt-free is the way to be. Way to go! Not many people in consumer nations have that status, unfortunately. Going forward carrying a large debt load could be a heavy anchor on one's life.

      $12,000 would pay my rent for a year with some left over for utilities.

      Linda and I are small on spending, and big on saving (whenever we can), so have been enjoying not being in debt for many years.

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    2. Yup, being debt free and free of the need to be one of the herd is definitely the way to go. Due to life being life, when I retired last August it was with just a small emergency fund that will cover my basics for three months and a my government pensions. No sweat - because I don't have the expense of work (weird but true concept when you think about it) I actually have more disposable income than I've had for the past ten years. I am a bit of a loner so attending a friend's book launch, the occasional reading and family stuff takes care of my social requirements. I walk everywhere I can (haven't put any cash on my transit pass since the day before they shut down the office for Covid) - keeps me in shape. Love my life and wish I'd done it sooner. Love this community of like-minded people. Love to Linda.

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    3. Oh Mela, your life sounds lovely, and you're so right, work IS an expense when you take into account things like office clothes, travelling there, picking up pre-packaged food because I was too busy and stressed to make a packed lunch.....

      Walking has been proven time and again to be the best exercise (and we can do it from cradle to grave).

      I really worry about young people being pushed into debt very early to pay for their education, and then going out into the world of work with a debt millstone round their neck. Horrible start to adult life :o(

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    4. Anonymous12:04 AM

      Mela - Henry David Thoreau warned his readers to be wary of situations that require them to buy new clothes. Many jobs fit that description. Working can be very expensive, as Clare also points out.

      Clare - I also love walking, It is good medicine.

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    5. Thankfully I was behind the scenes so jeans and a sweater or shirt worked most of the time. Have rotated the same pair of boots for a couple decades. I was the weirdo with the thermos of coffee stashed in a backpack and purchased lunch maybe once or twice a year (usually an occasion like a co-worker's birthday or somesuch). But, you know, those jeans that lasted me ten years going into the office every day will now last me twenty (I have a pair of 26 year-old Levis that are just reaching their peak of comfort). Over the years I turned down several offers to upgrade because the increase in pay wouldn't come anywhere near covering the increase in work costs, things like going from my uniform to something more business-like. I love Thoreau. I have a long line of dog-earred copies of his works on my bookshelf. Walking is my main transportation. Have never owned a vehicle but am seriously thinking of joining a local car co-op - it would be nice for things like just getting out of the city for a day without the hassle of deposits and credit cards. Oooo, I do tend to ramble, don't I? Peace to all.

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