The University of Michigan’s latest consumer survey released Friday showed that sentiment declined 11% early this month to a reading of 47.6, lower than anything seen in the post World War II era, including during the Great Recession, the pandemic downturn and the historic inflation surge afterward.
That’s actually kind of amazing. I mean, yes, double-whammy from tariffs and fuel costs from the war, but I wouldn’t have expected it to go that far.
I look for it to hit much lower, quickly.
The top 10% of earners in the U.S. account for 49.2% of total consumer spending, indicating a significant market share among wealthy consumers. This group has increasingly driven economic activity, reflecting their substantial financial influence.
Enjoy your scraps, cause that’s all you gna get.
Fun fact: The ruling Epstein class does not care about consumer sentiment.
Shocking, I know.
