The strongest and toughest creatures out there that no one has been able to subdue yet, the inexplicable American consumers, are digging in their heels though the entire power structure has been pushing them relentlessly to buy more and more with money they don’t have, and borrow against future income they might never make, just so that GDP can edge up for another desperate quarter. But it’s been tough.
Consumer
The Inexplicable American Consumer Hits A Wall
by Wolf Richter • • 7 Comments
The strongest and toughest creature out there, and maybe the smartest one, that no one has been able to subdue yet, the inexplicable American consumer has hit a wall. It showed up in a prosaic but ugly 8-K filing by Visa—a staggering and sudden shift that pundits tried to explain away somehow by referring to recent changes in debit card regulations. I mean, come on.
The Inexplicable American Consumer Takes A Breath
by Wolf Richter • • Comments Off on The Inexplicable American Consumer Takes A Breath
Consumer optimism has been rising from the morose multi-year low in August and has reached levels not seen since, well, May. It whipped hope into a froth. Rising confidence would pump up consumer spending, which would pump up everything else. But the inexplicable American consumer, the toughest creature out there that no one has been able to subdue yet, had other plans.
Economic Devil Is In The Details
by Wolf Richter • • Comments Off on Economic Devil Is In The Details
The Inexplicable American Consumer Strikes Again
by Wolf Richter • • Comments Off on The Inexplicable American Consumer Strikes Again
Consumer confidence indices have collapsed to levels not seen in years or even decades. Yet the toughest creature out there that no one has yet been able to beat down struck again. Consumer spending increased at an annual rate of 2.4% during the third quarter, though the mood has become outright morose since.