In an investor-focused survey published by Bloomberg, more than half of their respondents said that consumer spending will shrink in early 2024. This would be the first quarterly decline since the onset of the pandemic, diminish any hopes of the economy reaching a “soft landing." The findings appear quite different than the positive market outlook permeating through summer, brought on by lower inflation and lower unemployment.
Category
🗞
NewsTranscript
00:00 Is the mighty American consumer about to hit a wall?
00:03 In an investor-focused survey published by Bloomberg,
00:06 we love our friends at Bloomberg,
00:08 more than half of the respondents said
00:10 that their consumer spending will shrink in early 2024.
00:14 This would be the first quarterly decline
00:16 since the onset of the pandemic,
00:19 diminish any hopes of the economy reaching a soft landing.
00:23 The findings appear quite different
00:25 than the positive market outlook permeating through summer
00:29 brought on by lower inflation and lower unemployment.
00:32 What do we think?
00:32 I don't know, this is an interesting one.
00:34 I mean, like the consumer, everybody talks about
00:36 how much like credit card debt people have,
00:37 but it's really like not adjusted
00:38 for kind of where people have been and where they are
00:41 and what the market looks like.
00:42 I don't know, stocks are also like
00:43 not connected to the consumer.
00:45 Like, I mean, yes they are,
00:46 but it's all about future earnings and stuff.
00:48 So I don't know, I mean, I feel like, I don't know,
00:50 this is also like people clicking buttons in a survey
00:53 about how they feel.
00:54 Yeah, unless Alexander Semenova or Shonali reported this,
00:58 do we really believe it?
00:59 Yeah, that's up to you, the viewer.
01:01 I don't know, the consumer seems strong.
01:03 And as we go into the end of the year,
01:04 we're gonna see what holiday looks like.
01:05 I mean, I feel like, you know,
01:06 based on a lot of people going to Europe
01:08 and traveling a lot this summer,
01:09 Europe was out of control.
01:10 We saw the records.
01:11 The diarrhea was crazy and scary.
01:12 Diarrhea going to Spain, but yeah, I don't know.
01:15 I think, you know, we'll see.
01:16 It's, I don't know, the stocks are hitting all time highs.
01:20 Like, I don't know.
01:21 None of it makes sense.
01:22 Nothing ever makes sense.