Steadfast FinancesHow the Great Recession Changed Us

How the Great Recession Changed Us

Filed in Consumer Education , Infographics & Chartology , Personal Finance , Politics 5 comments

Interesting infographic from The Atlantic…

  • Unemployment rate –> DOUBLED
  • Daily consumer spending –> DOWN 47%
  • Taxes collected from firearms & ammo –> UP 57%
  • Savings rate –> UP 171%
  • Personal bankruptcies from 09/06 to 09/07 vs. 09/09 to 09/10 –> DOUBLED
  • Percentage of 18 to 29 year olds that moved back in with parents –> UP 24%

click for ginormous chart

Image Source & Credit
Timothy Lavin & Amanda Buck
How The Recession Changed Us
What a difference two years makes.

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Posted by CJ   @   14 January 2011 5 comments
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5 Comments

Comments
Jan 14, 2011
10:35 pm
#1 Dan B. :

What does daily consumer spending include? Those numbers seem a bit high.

Jan 15, 2011
9:52 am
#2 Matt SF :

Can’t know for certain since the equations & methods weren’t disclosed, but if I had to guess, it would include: food, retail goods, standard consumables, etc.

Jan 15, 2011
3:20 pm
#3 Dan B. :

I can’t accept that the “average” consumer had 47% of fat to cut out of his/her daily spending numbers. Nor do I believe that his/her daily spending was at $82 before the recession. Unless their numbers include some items that one wouldn’t normally think would be included. Don’t you think this seems a bit high?

Jan 16, 2011
2:19 pm
#4 Matt SF :

Honestly, I could make a case for both high and low. I’m more the anticonsumer type, so 47% of “fat” seems way high to me. Conversely, I know more than a few people who make 100k+ per year and consume so much they live paycheck to paycheck.

I’d like to see more detailed studies on this where the subjects gave their estimates of how much they spent on consumption, then do a little forensic accounting on how much they actually spent. Much like real vs. perceived wealth distribution, behavioral economics usually throws a monkey wrench in people’s beliefs.

Jan 16, 2011
5:03 pm
#5 David :

>I can’t accept that the “average” consumer had 47% of fat to cut out of his/her daily spending numbers.

As far as average meaning the mathematical average of all consumer spending (including the wealthy), 47% seems to me a reasonable number. After all, for the ultra-wealthy (who control a highly disproportionate amount of capital in the United States), probably over 99% of their consumption is “fat” (in the sense of not being essential or required to live a reasonable life).

>Nor do I believe that his/her daily spending was at $82 before the recession.

Yeah, that adds up to 30K a year, and the United States per capita personal income was only like 40K pre-recession. Perhaps they define “consumer spending” as (everything – housing).

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