Given the events of the last few years it’s easy to say we are living in a new economy. If I have heard it once from the “experts” I have heard it a thousand times. They might as well be saying even more obvious statements, “Hey I think that internet thing is here to stay.” Thanks for the tip.
However, when you ask, “what does it mean we are living in the new economy?” You will in variable receive a million different responses. Go to
the department of Labor Statistics and you can find the following data on American spending habits:
These are almost identical to the previous year. It’s not that Americans are changing where they are spending, but that they are just spending less over all.
Let’s start with the obvious American’s are spending less.