US consumer spending stalls even as inflation eases

Let's not conflate "inflation eases" with "prices fell".

EVERYTHING is way overpriced. We're going into debt financing food, utilities, and property taxes on credit cards now. That is simply unsustainable.

Worse, the government erased over 30% of our purchasing power by devaluing our wages, current and past. This means that people who are in retirement or even 15 years from retirement have had more than 30% of their savings stolen away, shunted over to the uber wealthy, who received zero rate loans to acquire more rent-seeking properties. It was a clever heist. Then the central bankers jacked up rates to crash the markets after the uber wealthy were well insulated. That wiped down our 401Ks, pensions, and IRAs an actual 32%... 32% less dollars, which have 30% less purchasing power. Most people are financially ruined for the rest of their lives and they may not even know it yet. Their lifetimes of earnings/savings will very rapidly be fully erased and the real crisis starts in a few years when the elderly and older workforce has NOTHING to sustain themselves. At that point, the government will "save" us even harder by jacking up taxes even more. If you thought people didn't enjoy working while going under now, they certainly will not work while lifting politicians and the rich to even grander heights for even less take home. The engines are revving, the nose is up, but we're at a dead stall and no way to pull out of it now.

/r/Economics Thread Link - ft.com