Retail workers see the malls dying. They know their days are numbered and are saving every dollar they can.
US citizen construction workers see that legal & illegal Latin Americans are taking over construction, so no unnecessary purchases for most US citizen construction workers.
Many people thought Trump would bring back industrial jobs, but Trump has mainly failed in that endeavor, so back to really tight spending.
The stock market has probably hit a peak, which won’t be surpassed for many years, so the spending that accompanies stock market booms is vanishing.
People living off savings are hearing the Federal Reserve wants to cut interest rates, so people living off savings are cutting back.
I’m cutting my spending because my money is running low and I want to delay taking Social Security as long as possible to avoid the ~8% cut for each year it’s taken before age 70.
People are also cutting back on travel to reduce their CO2 footprint.
Retail workers see the malls dying. They know their days are numbered and are saving every dollar they can.
US citizen construction workers see that legal & illegal Latin Americans are taking over construction, so no unnecessary purchases for most US citizen construction workers.
Many people thought Trump would bring back industrial jobs, but Trump has mainly failed in that endeavor, so back to really tight spending.
The stock market has probably hit a peak, which won’t be surpassed for many years, so the spending that accompanies stock market booms is vanishing.
People living off savings are hearing the Federal Reserve wants to cut interest rates, so people living off savings are cutting back.
I’m cutting my spending because my money is running low and I want to delay taking Social Security as long as possible to avoid the ~8% cut for each year it’s taken before age 70.
People are also cutting back on travel to reduce their CO2 footprint.
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so, in summary, brian, are you expecting a recession?
RE: Many people thought Trump would bring back industrial jobs, but Trump has mainly failed in that endeavor, so back to really tight spending.
So, why is consumer spending up?
Hoping for a recession does not cause a recession. A recession could be triggered by widespread pessimism and anxiety that made people less likely to invest or spend, lowering sales and profits and creating a vicious cycle.
But Bill Maher (who says he wishes for a recession in order to elect a Democrat in 2020) and a couple of writers are unlikely, by themselves, to generate enough economic pessimism to make people change their economic behavior.
And if you think Democratic lawmakers can sound sufficiently gloomy to make businesses less interested in hiring new employees or unveiling new products, recall that the Democrats’ message on the economy hasn’t changed since Trump was elected.
Don’t get me wrong, None of this means a recession is impossible, obviously; in fact, when so many economic indicators look this good, it’s probably hard to maintain that level for an extended period of time; similar to how the New England Patriots, the Toronto Raptors, Boston Red Sox and Saint Louis Blues will have a hard time doing better than they did last year.
Gallup found “Americans’ confidence in the U.S. economy improved in July, with Gallup’s Economic Confidence Index rising seven points to +29. The latest index is the highest Gallup has measured since February.”
SEE HERE:
https://news.gallup.com/poll/261485/economic-confidence-improved-july.aspx
Of course malls are dying. They have been for a long time. Things change. People smoke less cigarettes but consume far more wireless communications today. Big deal.
Trump has not failed to bring back industrial jobs; but, it will help when the USMCA is ratified along with other trade deals. Still YOU SEEM TO IGNORE Trump has rescued coal, fracking, pipelines and so many other industries already, in just 2.5 years. Sheesh!
BTW, President Trump "created" 4.7 million jobs in his first two years--A PACE TO MAKE HIM THE GREATEST JOB CREATING PRESIDENT IN HISTORY.
What do you know about the stock market, if you're trying to live on Savings Account or CD interest? Again, times change. Personally, I do not give credence to your view that the stock market has topped.
"People living off savings" need to be in the stock market. Buy some good mutual funds and quit trying to live off interest alone.
Only libtards are "cutting back on travel to reduce their CO2 footprint." Not even Al Gore is that stupid. (HINT: It's a leftist hoax, like Russia-gate.)
Bottom Line: I would urge you to have more faith in the resurgent American economy.