Is saving money putting America in the red?
Anyone who asks that has no conception of proper economics and has probably never heard of Henry Hazlitt. However, when it comes to reporting on facts rather than on suppositions and guesses, the “Holiday Consumerism” infographic is adequate. Moreover, the infographic is spot on when it states that the government has done nothing to help the economy.
Even in 2015, the Great Depression II is still with us. People may mouth the “facts” that unemployment is down, but they are merely parroting the government line and ignoring the well-known (to intelligent people) fact that people who have been unemployed for many months drop off the list of unemployed.
The infographic provides further evidence of this. It states that there will be a 63% increase in credit card purchases over the next five years (i.e., up through 2016) versus only a 2% increase in debit card purchases. In other words, people are using what they do not have, rather than what they do have. The tens of trillions of dollars in the national debt is not helping the federal government, and personal debt is certainly not solving the problems of everyday Americans.
The good (or potentially good) news is that a large number of Americans are spending less during the holidays. It has been oft-repeated that the current generation of Americans will be the first generation in history to fare worse than their parents, but the band-aid must be ripped off at some time.
Likes: A really well-designed and visually appealing infographic.
This Infographic displays Holiday Consumerism. Brought to you by YouNeverLose.com.