It’s Going To Get Bad Before It Gets Better
So, consumer confidence is light, right? Whoa, wait a second. Maybe this economy isn’t doing so great. Look at the price of eggs. And I’m still paying $3 for gas, and Trump came into office, and he didn’t make everything better on day one. The sky is falling. Well, the egg prices have nothing to do with Trump. They have to do with killing chickens and egg laying hens,
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and inflation isn’t coming down because nothing comes down in a month. And certainly, tariffs don’t help anything. But I’ve got polling numbers that show Trump at 52%, but lighter than expected. Conservative consumer confidence could be an issue… Dr Matt Will joins us, economist at the University of Indianapolis. Wall Street Journal story U.S. consumer confidence falls back on fears of tariff induced price increases. You take a look at this story. What say you?
Well, there’s 2 reports that came out, the University of Michigan sentiment report and then the government report today. And they both say the exact same thing. They both say sentiment is down and it’s worse than we expected. But it is not a surprise. There are two factors, and we’ve talked about this on the show before: The tariffs are self-inflicted pain and you’re when you’re in an economic war, when you’re in a tariff war, the US is going to have to suffer some pain if they want to win this battle and that’s what we’re seeing in the sentiment it is happening and also we have to fix the Biden economy and that’s not going to turn on a dime.
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It’s like turning an aircraft carrier it’s going to take 18 months, and sentiments are going to be down and we’re going to feel the pain and that’s what you see in these reports.
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