Consumer confidence plummetted in March shocking the mainstream media. But to those who have been following the economy, this wasn’t as shocking as some pundits are declaring.
According to Investing, consumer confidence is at a 16-month low. Although this isn’t that surprising, as wages remain stagnant, elections go on the rise, and Americans default on their record levels of consumer debt. Whether the average consumer is just overburdened with their already immense debt load or they have decided to begin saving instead of spending, this is not a positive sign for the economy.
U.S. economic growth has already slowed beginning toward the end of 2018. The start of 2019 appeared to be off to a weak one too. Financial markets have focused on the slowdown in the broader global economy, particularly in China and Europe, while ongoing trade tensions between Washington and Beijing add to concerns.
“[Consumer] confidence has been somewhat volatile over the past few months, as consumers have had to weather volatility in the financial markets, a partial government shutdown and a very weak February jobs report,” Lynn Franco, director of economic indicators at The Conference Board, said in the report. And the government’s report shows a mere 20,000 jobs were created in February – not nearly enough.
Other data released on Tuesday revealed that housing starts and building permits declined sharply in February. The weakness in the American real estate sector, along with the sputtering strength of consumer confidence, may foreshadow the loss of economic momentum.
Reflecting the more pessimistic outlook for a labor market that is losing momentum, the CB survey showed that the proportion expecting more jobs in the months ahead decreased to 16.4% from 19%, while those anticipating fewer jobs increased to 13.4% from 12.3%. –Investing
This decline in consumer confidence is just one more nail in the economy’s coffin. If the economy is so great, as many in the media would have us believe. then why are so many drowning in debt, buried by stagnant wages, and merely one paycheck away from economic annihilation?
The economy is a joke and the biggest mistake Trump made was to own it. Obama knew full well he was running an economy that looked more like a ghetto economy: everything is borrowed or loaned and nobody knows when it will be repossessed so they keep the couch wrapped in plastic.
Here is how the economy works: the electronic mirage is kept afloat through printed up money every month on orders from the Fed. The phantom wealth is then injected into the economy via speculative bubbles: real estate, tech, emerging markets, bio-med, pie-in-the-sky ‘green’ scams, etc.
The majority of the pickings are then taken by the super rich, who run most of their start-ups and funky tech ‘unicorns’ on slave or no-pay Labour (think refugees, broke students, ignorant and desperate migrants etc.). Those are the jobs. Most of these people survive by paying no tax and claiming a zillion different welfare schemes for single obese black mothers, families with children, Muslims, etc. A house of cards that will come down if the payment systems seize up or there is a margin call on the whole fraud.
“The economy is a joke and the biggest mistake Trump made was to own it.”
Spot on Frank. That, and picking Sessions for AG !!! 🙂
I agree. How they have kept kicking the can down the road this long is amazing. How many here expected shtf long before 2019 ? I sure did. We have cut back spending , have little debt, don’t go out often, & are driving 16 year old vehicles. Yet each year it seems that everything goes up except the paycheck. Getting to be more month than money. We can’t tighten our belts any more. Something has to give .
RandomTangent1957, well said and me too!
Thought I was the only one driving an ’04. Might have to take on some debt for dental work (expensive stuff to do) or if I find my dream acreage.
What? But, but… I thought we were going to be so tired of winning by now! Right? I thought all those factory jobs were going to come flooding back with high wages, right?? I thought everyone was going to have health care and the economy was going to make everyone prosperous, right?
That’s what Dumpf said was gonna happen. That’s what Hannity and Rush said was gonna happen. That’s what the Republicans said was gonna happen….WHAT HAPPENED?
PRESIDENT Trump is doing a better job than the past 4 presidents did, and he has had most of congress, and almost ALL of the media working and rooting against him. Winning? We are in a much better position right now, than if hillary had won. She would have continued with obama’s BS regulations, healthcare, and open border policy. She would have allowed the corrupt factions in our government to continue spying and manipulating for their own purposes. Pay-for-play would still be going on, but we citizens wouldn’t have anyone watching our backs.
Winning? Maybe not as much as we would like, but at least we aren’t on the losing side. The game is still being played, and the opposition is still cheating and whining; and with that being said, since “the fat lady hasn’t sung yet”, we may find that we have been dealt a better hand than we thought.
Well the giving will keep on giving so say’s uncle sugar. Trumpy has backed down the fed(Powell) and they’re maintaining status quo. So them rates will remain as they are for now. Meanwhile Nebraska and a few other states are still treading water. Get ready for super grocery sticker shock as it is coming. Get it now and jam pack the freezer and the dry good pantry in your home. Those with chickens and other live stock better get your feed pile built up too. I’ve order my biddies and they’re due to arrive first of May. I’ve selected those who still have a tendency to get broody and set on eggs. That way when they hatch I can sell them or raise them up and add them to the current ones while I’m eating on the older ones.
“If the economy is so great, as many in the media would have us believe. then why are so many drowning in debt, buried by stagnant wages, and merely one paycheck away from economic annihilation?”
Because. You people keep voting for Republicans. Stupid is as stupid does.
Sunshine, so what’s left the demorats? I tell you what though, I voted for my last time. I pushing for this whole hotdog stand to come crashing down. I’ll take my chances when it happens and I’ll be voting from the bullet box and not the ballot box. And if’n I don’t make it well it’s been quite a party.
repr sleepr: Gotcha, I won’t be either, Trump betrayed the 2d amend. this week, I do not own bump stocks, he banned them, so what is next? military style rifles? This country is being invaded by Muslims and those south of the border, etc. Open borders prevails. https://gunowners.org/bump-stocks-are-officially-illegal-starting-today-what-to-expect/
The only thing Trump is in charge of is his Twitter account. Otherwise, he’s wandering around in a dark room looking for a black cat that isn’t there.
Seriously, the narrative is controlled by the bosses. Any programs implemented are at their discretion. The blue team/red team argument is for sheeptards to argue about.
. Start living off your preps don’t buy anything. If everyone does it at the same time the economy will collapse. Don’t buy anything anymore. If everyone stops buying shit it will be like the final nail in the coffin. No more profits for greedy corporations. They need to suffer.
The American population is spending their income on necessities like gasoline, food, heating, etc and have nothing left for nice-to-have items. Gasoline prices are going up and food prices will rocket to serious heights. Severely restricted consumet spending will undercut consumer demand for nice-to-have items.