The Bureau of Economic Analysis has some good news for the economy. Real Personal Consumption Expenditures (PCE) rose 3.3% in Q4 2013, the second highest level since the end of The Great Recession in July 2009.
Could it be that the unprecedented Fed stimulus (zero interest rate policy) is paying off?
Personal savings rates fell to the 2nd lowest level since the end of The Great Recession.
Save less, consume more. It’s almost like we are living in the movie “They Live!”
On a side note, George Mason University economist Tyler Cowen was pepper-sprayed when some young punk tried to perform a citizen’s arrest.