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The American Consumer Is 'Starting to Freak out,' Spending Drops 3 out of Last 4 Months
[Red State] Although President Biden keeps insisting his economic programs are working great, there are plenty of troublesome signs indicating otherwise, including the all-important rate of consumer spending. Simple rule: if people are buying more things, it generally means they feel good about the state of their finances and the economy.When folks tighten their belts, however, it’s because they either simply don’t have enough money to purchase more than the essentials, or they’re holding on to their wallets because they fear for the future. Consumer spending is often known as the "engine of the economy"—and it’s out of gas. The Wall Street Journal reports that Americans are "starting to freak out": Posted by: Besoeker 2023-01-31 |
| http://www.rantburg.com/poparticle.php?ID=657284 |