Americans are Spending Less
Today’s front cover of The New York Times has a story about how Americans are spending less on a lot of consumer goods. It mostly focuses on food cost-cutting in the typical household. Now, I do think the media has a big role in scaring people into spending less even if they have enough money to buy the food they’ve always eaten, but it is an interesting article none-the-less. Especially the part about people continuing to spend money on consumer electronics like TVs even while they are buying 85 cent bottles of generic-brand A1 steak sauce instead of the name brand. (”But if I spend $2,000 on a flat-panel TV I will save money because I won’t be going out to the movie theater!”)
