
Americans Spend Their Asses Off
Americans were spending their asses off in Q4, preliminary US GDP data released on Thursday suggested.
Although the headline growth readout disappointed, the personal consumption print was a scorching-hot 4.2%.
That was the briskest since Q1 of 2023. The same was true, by the way, of Q3's personal spending readout, which is to say the spending impulse feels pretty escalatory.
Do note: 4.2% counted as a full percentage point ahead of consensus. Economists expected a 3.2% pace from the advanc
Could this really be a recession? I do know this, it wasn’t trumpanomics.
The problem comes when you’re still here and the money’s gone.
Yes, indeed. My parents lived in the same house for 57 years in a state capital of a mid-western state. They lived a great life, doing pretty much everything they wanted to do, on less than $100,000/year. Following my mother’s death, my father, now 91, has steadily lost his cognitive/physical abilities. He is now living in a “memory care” facility at a cost of $175,000/year.
I am definitely pursuing “death with dignity” et al, for myself. The key is to have someone in your life that you trust to help execute the decision, in the event one is unable. From my observation, the end of life may be truly terrible and extremely expensive- and literally not worth living through. I don’t want those types of days for myself- plus, I’d rather give the money to my kids.