Thread Options
|
#1958921 - 09/03/14 04:05 PM
St. Louis Fed says consumers are "hoarding money."
|
Platinum Poster
Joined: Feb 2010
Posts: 960
Illinois
|
The St.Louis Fed explains low inflation is a result of consumers hoarding money. We used to call that "saving" and my parents told me that was a good thing. I'm currently hoarding every dollar I can, so that I can afford to retire someday. http://www.cnbc.com/id/101963821"households are sitting on $2.15 trillion in savings—about a 50 percent increase over the past five years." "So why did the monetary base increase not cause a proportionate increase in either the general price level or (gross domestic product)?" economist Yi Wen and associate Maria A. Arias asked in the St. Louis Fed paper. "The answer lies in the private sector's dramatic increase in their willingness to hoard money instead of spend it. Such an unprecedented increase in money demand has slowed down the velocity of money."
_________________________
I thought getting old would take longer.
|
Return to Top
|
|
|
|
#1958924 - 09/03/14 04:12 PM
Re: St. Louis Fed says consumers are "hoarding money."
MyBrainHurts
|
Junior Member
Joined: Aug 2004
Posts: 38
The Sovereign State Of Oklahom...
|
I dont suppose they have ever heard of thee term "Consumer Confidence"? Lack of said term has been known to cause a similar reaction for about the last 3 - 4 thousand years or so.
_________________________
Run like the wind, but never forget gravity.
|
Return to Top
|
|
|
|
#1958929 - 09/03/14 04:16 PM
Re: St. Louis Fed says consumers are "hoarding money."
MyBrainHurts
|
Power Poster
Joined: Nov 2008
Posts: 4,132
Somewhere in the middle
|
Oh wait, who runs the "Feed the Pig" ads Does advertising actually work.
_________________________
I'm only responsible for what I say, not for what you understand.
|
Return to Top
|
|
|
|
#1958937 - 09/03/14 04:28 PM
Re: St. Louis Fed says consumers are "hoarding money."
MyBrainHurts
|
Junior Member
Joined: Aug 2004
Posts: 38
The Sovereign State Of Oklahom...
|
People are hoarding ammo and cash..... and apparently Beanie Babies, cause I never see them anymore either!
_________________________
Run like the wind, but never forget gravity.
|
Return to Top
|
|
|
|
#1959006 - 09/03/14 06:25 PM
Re: St. Louis Fed says consumers are "hoarding money."
MyBrainHurts
|
Diamond Poster
Joined: May 2011
Posts: 1,984
Idaho
|
Are they really trying to blame people for being responsible and saving money?
_________________________
All opinions are my own, not my employer's
|
Return to Top
|
|
|
|
#1959021 - 09/03/14 06:45 PM
Re: St. Louis Fed says consumers are "hoarding money."
MyBrainHurts
|
10K Club
Joined: Jun 2004
Posts: 19,844
Pulling people out of the ditc...
|
they obviously have not looked at the spending patterns or habits of MsGilmore...
i hoard money, i put the max in 401(k) that our bank matches...put extra in Roth...have a savings account MsG knows about, one she doesn't, and also have some ready cash on hand that never sees the inside of a bank
i expect that when i retire i will live solely off my savings and 2 pensions, no expectation of social security, and i'm planning as such...so, if it is there, then great, it will just be extra income for me
_________________________
Providing alternative truths since the invention of time
|
Return to Top
|
|
|
|
#1959024 - 09/03/14 06:50 PM
Re: St. Louis Fed says consumers are "hoarding money."
MyBrainHurts
|
Diamond Poster
Joined: Feb 2008
Posts: 2,207
Deleted
|
::ponders building a vault under the new house::
_________________________
We're all here 'cause we've lost control.
Innerpartysystem
|
Return to Top
|
|
|
|
#1959036 - 09/03/14 07:10 PM
Re: St. Louis Fed says consumers are "hoarding money."
MyBrainHurts
|
Diamond Poster
Joined: Sep 2011
Posts: 1,648
A CU, Where Regs Don't Apply
|
I plan to live the last 25 years of my life much more excitingly than the first 25, so yes, I'm doing very similar to Happy when it comes to aggressive savings and retirement planning. I don't plan on any outside help, and I don't plan on working until I'm 80 either! I'm going to get out while I can still enjoy life.
My wife, I don't know what she's going to do. I'm not letting her live off my life's savings, that's for sure!
_________________________
Someone's about to get horned!
|
Return to Top
|
|
|
|
#1959037 - 09/03/14 07:13 PM
Re: St. Louis Fed says consumers are "hoarding money."
Matt_B
|
Gold Star
Joined: Apr 2012
Posts: 264
one state over
|
My wife, I don't know what she's going to do. I'm not letting her live off my life's savings, that's for sure! I told my wife that ... she said she will get half of it one way or another
_________________________
CRCM
"Strip the Flesh, Salt the Wound" - Krieg
|
Return to Top
|
|
|
|
#1959041 - 09/03/14 07:17 PM
Re: St. Louis Fed says consumers are "hoarding money."
MyBrainHurts
|
Power Poster
Joined: Nov 2008
Posts: 4,132
Somewhere in the middle
|
On our relationship, there is no Her Money My Money, it is all our money.
_________________________
I'm only responsible for what I say, not for what you understand.
|
Return to Top
|
|
|
|
#1959045 - 09/03/14 07:22 PM
Re: St. Louis Fed says consumers are "hoarding money."
MyBrainHurts
|
Power Poster
Joined: Jul 2008
Posts: 4,796
You are here
|
in our relationship there is no money as she spent it all
_________________________
Opinions can be considered as coming from anywhere but my employer.
CAMS
|
Return to Top
|
|
|
|
#1959051 - 09/03/14 07:25 PM
Re: St. Louis Fed says consumers are "hoarding money."
MyBrainHurts
|
Power Poster
Joined: Jul 2008
Posts: 4,796
You are here
|
"Much of that liquidity, however, has sat fallow. Banks have put away close to $2.8 trillion in reserves, and households are sitting on $2.15 trillion in savings—about a 50 percent increase over the past five years." Too Big To Fail Banks Have Paid $251 Billion in Fines For Sins Committed Since 2008 http://www.forbes.com/sites/robertlenzne...ted-since-2008/Could it be that the banks are required to hold it and pay some to the same government that claims they are hording it?
_________________________
Opinions can be considered as coming from anywhere but my employer.
CAMS
|
Return to Top
|
|
|
|
#1959076 - 09/03/14 08:24 PM
Re: St. Louis Fed says consumers are "hoarding money."
MyBrainHurts
|
10K Club
Joined: Sep 2002
Posts: 13,965
TN
|
Leave Compliance? Can we actually do that?
My husband is just a couple of years from retirement. We're trying to sock it away in our 401(k)s, bought his childhood home and had it renovated - and plan to retire there. Our house will be paid for and I will continue to work - after I find a job - for awhile since I'm quite a bit younger. Hopefully our expenses will be greatly reduced.
_________________________
My Opinions Only
|
Return to Top
|
|
|
|
#1959081 - 09/03/14 08:32 PM
Re: St. Louis Fed says consumers are "hoarding money."
Truffle Royale
|
10K Club
Joined: Jun 2004
Posts: 19,844
Pulling people out of the ditc...
|
We each contribute the same percentage of our earnings to pay household bills. The rest is each our own to pay individual credit cards, play golf or buy shoes, etc. oh goodness...since MsGilmore teaches pre-K at a church school, if I had to rely on her contribution to pay bills we'd be living on the street...
_________________________
Providing alternative truths since the invention of time
|
Return to Top
|
|
|
|
#1959086 - 09/03/14 08:38 PM
Re: St. Louis Fed says consumers are "hoarding money."
Truffle Royale
|
Diamond Poster
Joined: Sep 2011
Posts: 1,648
A CU, Where Regs Don't Apply
|
I'm in a marital property state meaning what's mine is mine and what's his is mine. fwiw, I truly believe one of the secrets to a successful marriage is separate checking accounts. We each contribute the same percentage of our earnings to pay household bills. The rest is each our own to pay individual credit cards, play golf or buy shoes, etc. We maintain separate accounts and only commingle funds for household expenses (paying the mortgage basically, the rest of the utilities come out of my income, and she gets the groceries generally). I'm joint on a card with her, but I'm alone on all mine. So I can chip in on her expenses when her teeny tiny paycheck falls short of her big student loan payment, but otherwise it's easier this way. She likes to balance and track every cent, I don't give a carp, so it'd be a huge pain for her to try to track my spending if she had to Makes establishing a household budget tougher when things aren't aggregated, but meh. I know when she says "tighten the budget" she just means for me to give her more of my income to spend on shoes and purses.
_________________________
Someone's about to get horned!
|
Return to Top
|
|
|
|
#1959092 - 09/03/14 08:50 PM
Re: St. Louis Fed says consumers are "hoarding money."
Matt_B
|
Power Poster
Joined: Jul 2002
Posts: 5,568
New Jersey
|
If the consumer doesn't save money, the government chides them for being profligate (yeah, I know, a little ironic) and relying too much on Social Security.
If the consumer does save money, the government chides them for "hoarding" money (in the government world, there is no such concept as "saving" money, so they have to find another word for "failure to spend"), and not fueling the economy.
The message seems to be: do what the all-knowing and always benevolent government tells you to do, you poor deluded consumer who can't be trusted to make any decisions.
_________________________
Management is doing things right; leadership is doing the right things. Peter Drucker
|
Return to Top
|
|
|
|
#1959141 - 09/04/14 12:21 PM
Re: St. Louis Fed says consumers are "hoarding money."
MyBrainHurts
|
Member
Joined: Jan 2006
Posts: 78
Where I am supposed to be
|
What ^^^^^^ said.
My wife is a stay at home mom so we only have joint accounts. Any money I make is not mine anyway, I am just a steward, so I have no issues with considering it "our" money.
_________________________
Do, or do not; there is no try. - Yoda
|
Return to Top
|
|
|
|
#1959142 - 09/04/14 12:23 PM
Re: St. Louis Fed says consumers are "hoarding money."
MyBrainHurts
|
10K Club
Joined: Dec 2002
Posts: 40,766
Turnpike Exit 10
|
Mine is mine and his is his. We share a small household account, and yes, I am hoarding my money.
_________________________
Get your facts first, then you can distort them as you please. - Mark Twain
|
Return to Top
|
|
|
|
#1959145 - 09/04/14 12:36 PM
Re: St. Louis Fed says consumers are "hoarding money."
Purple Pride
|
Power Poster
Joined: Jul 2002
Posts: 5,568
New Jersey
|
Any money I make is not mine anyway, I am just a steward, so I have no issues with considering it "our" money. Amen, brother!
_________________________
Management is doing things right; leadership is doing the right things. Peter Drucker
|
Return to Top
|
|
|
|
#1959151 - 09/04/14 12:58 PM
Re: St. Louis Fed says consumers are "hoarding money."
Sinatra Fan
|
Diamond Poster
Joined: Apr 2004
Posts: 1,181
Yinzerville, PA
|
Whatever works for you is great. But just curious, for the people that say mine is mine and his is his, what happens if one of you loses his/her income? My wife has had two government jobs eliminated in the past four years, through no fault of her own. I can't imagine if we had separate accounts. Would she have to ask me for an allowance? That wouldn't seem right.
And I'm guessing you guys don't have kids, because we spend just about everything on them, or as a family. I don't spend much of anything on myself.
|
Return to Top
|
|
|
|
#1959154 - 09/04/14 01:03 PM
Re: St. Louis Fed says consumers are "hoarding money."
MyBrainHurts
|
10K Club
Joined: Oct 2006
Posts: 14,390
Cheeseheadland
|
We have had everything joint since day one, I could never imagine separate accounts. Admittingly, I'd be too consumed with wanting to know what the other half is doing or has going on!
_________________________
I don't repeat gossip, so listen closely...
|
Return to Top
|
|
|
|
#1959155 - 09/04/14 01:04 PM
Re: St. Louis Fed says consumers are "hoarding money."
Bankster
|
Power Poster
Joined: Jul 2008
Posts: 4,796
You are here
|
Whatever works for you is great. But just curious, for the people that say mine is mine and his is his, what happens if one of you loses his/her income? My wife has had two government jobs eliminated in the past four years, through no fault of her own. I can't imagine if we had separate accounts. Would she have to ask me for an allowance? That wouldn't seem right.
And I'm guessing you guys don't have kids, because we spend just about everything on them, or as a family. I don't spend much of anything on myself. Bingo including the two jobs thing.
_________________________
Opinions can be considered as coming from anywhere but my employer.
CAMS
|
Return to Top
|
|
|
|
|
|