Data released this morning shows that:

  1. the price of goods and services (excluding food and energy) has increased
  2. personal income has declined
  3. personal spending has increased

as shown on the three graphs below.

Prices Up...Personal Income Down...Personal Spending Up
Prices Up...Personal Income Down...Personal Spending Up
Prices Up...Personal Income Down...Personal Spending Up

This latest data confirms that the debt load of consumers is increasing, while their income decreases…resulting in a two-fold increase in…

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