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What Kind of Recovery Is This?

11:44 AM, Jul 14, 2014 • By GEOFFREY NORMAN
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From Gallup, we learn that:

Slightly less than half of all Americans (45%) report spending more than they did a year ago, while 18% report spending less. A closer look at these numbers reveals Americans' increased spending is on household essentials, such as groceries, gasoline, utilities, and healthcare, rather than on discretionary purchases.

But the economy is in recovery and inflation is not a problem since it is only the necessities that are getting more expensive.

Tempting to go out and celebrate … if you could afford it.

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