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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (1157037)	8/15/2019 4:32:34 PM
From: Sdgla	Read Replies (1) \| Respond to of 1572637

Hussein in jail crackpot ? MAGA is working Consumer Spending Beats Expectations – Shoppers Reject Phony Media Recession Fears… Posted on August 15, 2019by sundance If you needed any empirical evidence to prove the doomsday proclamations by the financial pundits are false claims, just look at the July consumer spending results. July spending more than doubled expectations. July results were +0.7 percent, against the economic forecast of +.03 percent. Consumer spending makes up over two-thirds of the U.S. GDP and overall economy. Doesn’t exactly sound like Main Street is on the precipice of a recession. Oh my. Average wage growth remains +3.5% year-over-year. The growth of overall income for American workers exceeds +5.4 percent year-over-year. Unemployment is a low 3.6% and U.S. consumer inflation remains low at 1.4 percent. Meaning: the middle-class has more disposable income to save or SPEND; and that’s what is happening…. Reminder #1: Consumer spending is two-thirds of the U.S. economy.Reminder #2: We consume more than 80 percent of our own production (products created in USA). We do not rely on exports.Reminder #3: Because of #1 and #2, the “Main Street” U.S. economy is self sustaining -much stronger- and more protected from the negative impacts on the global economy.Reminder #4: Who/What is at risk from global contraction? The Wall Street economy (compromised primarily of multinationals). What is not at risk, the Main St economy.Reminder #5: Because of #3 and #4, Wall Street can drop while Main Street thrives.