The Curious Capitalist on the 2.8% drop in consumer spending in October:

[T]he hardest-hit category by far, gasoline stations—down 12.7%—was down largely because gas prices were down. It wasn’t that consumers were cutting back. It’s that they were saving money. Take gas stations out of the equation and the retail spending decline is 1.5%. Take gas stations and cars (motor vehicle & parts dealers) out, and the decline is 0.5%. Then again, if you take all the stuff that went down out of the equation, retail sales were up.

This recession seems stranger the more I look at it. We’re not seeing a decline in work, and I know few people curtailing their spending habits. Quite the opposite. I know more than a handful who are spending more than normal, capitalizing on many of the unfathomable bargains available.

Anecdotes are of course useless, but the disconnect strikes me as something to think about.