Wednesday, September 30, 2009

We're spending like, well - never before

Retail sales were up 0.9% in August.

But that's not the point.

The point is that even in August, nine months after the stimulus packages began, we are still spending way in excess per month of what we ever did before the packages.

The graph from the ABS tells the story.

The dark trend line stops just before the first package.

After the spending packages looks nothing like before them, right?