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The Indicator from Planet Money

Should Americans buy less stuff?

The Indicator from Planet Money

NPR

Business

4.79.5K Ratings

🗓️ 18 November 2021

⏱️ 9 minutes

🧾️ Download transcript

Summary

Americans love to shop, and consumer spending has only increased since the start of the pandemic. Even the supply chains are tired. That's why one Bloomberg columnist believes it's time for an intervention.

Transcript

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0:00.0

NPR.

0:12.4

This is the indicator from Planet Money.

0:14.1

I'm Stacey Vannick Smith.

0:16.2

We are a nation of consumers.

0:19.1

Buying stuff is by far the largest part of the U.S. economy, 70%.

0:24.4

And we're not slowing down.

0:26.0

News out this week found that retail spending jumped again last month to set yet another

0:30.4

all-time record.

0:32.3

Since the pandemic, we have been buying more stuff than ever before.

0:35.9

And now, our supply chains are in crisis.

0:38.7

I think this moment will pass.

0:41.0

But I think it's worth reflecting, is it healthy to consume this much?

0:45.3

Is it healthy to consume this much?

0:47.8

Today on the show, we talk with economist Allison Schreger about consumer spending, supply

0:52.7

chain fails and holiday shopping.

0:58.1

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1:03.1

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1:04.6

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1:06.0

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1:10.0

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1:15.0

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1:20.8

plan, protect and retire.

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