pete gow works in the cbs news london bureau. es back and writes songs so we will show you more from pete in a few minutes. take a listen. >> he has a new album. ♪ >> when you look at him, you can tell. >> scruffy. >> he is scottish, right? >> yes, he is. proudly scottish. >>> consumers are spending more of their incomes than in years but not buying the same things we used to. >> a commerce department report finds some fundamental changes in where our money is going. personal finance expert la jean that lewis -- regina lewis is here. it seems like the retail therapy? >> a good way to put it. it's the american way. americans love their spending. what we are spending has changed and what we have fallen in love with. we are creating to impulse buys and quick fixes at affordable price points that make us feel and look good now. we are all about the now so living on a shoestring but in the moment. >> why is that? how big is the shift up? >> the numbers are really significant so take a look. 93.1% of our after-tax income is going to goo

pete gow works in the cbs news london bureau. songs. we'll show you more from pete a few minutes. take a listen. >> he's got a new album. ♪ ♪ >>> when you look at him, you can tell. >> he's scruffy. >> scottish, right? >> yes, he is. proudly scottish. >>> but first, consumers are spending more of their incomes than years since the presession began. but we're not buying the same things we used to. >> a commerce department reports finds some fundamental changes in where our money is going. cbs contributing editor regina lewis is here. we're buying things that make us happy. it seems like it's the ultimate retail therapy. >> i think that's a good way to put it. americans love their spending, it's the american way. but what we're spending has changed and what we've fallen in love with. we're gravitating towards what i would call, impulse buys, instant gratification, quick fixes at affordable price points, that make us feel and look good, all about the now. we're living on a shoestring, and in the moment. >> how big is the shift? >> t

we are joined with an intrepid producer from our pete gow.been in libya and war zones and seen it all. you always have been a musician but you got a lot of buzz surrounding your music nowadays. >> that's right. it's kind of leaked out the two different jobs. >> is that your stage name, pete gow? >> no. that is the real one. >> let's take a listen. ♪ >> pretty handy with that guitar there, pete! >> where do you get your inspiration? >> it comes from everywhere. as most wrongwriters do, i carry a notebook around with me and if something goes by, i'll note it. >> it's interesting. you're one of the highest ranking producers that the cbs network has. when i look at you, you look more like a musician to me. >> you look more like a rock star. >> i thought each by that standards, that beard needed a trimming. >> are you able in watching the music portion of your career, were you able to tap into any relations you had made as a news producer? >> no. i think charlie touched in the piece yesterday. >> that means you're not singing about us? >> there is