Donnie! People are scared!
Anyone who saw the latest poll on consumer confidence should know one thing: The American people are scared. A friend of mine said: “If the American people can suffer some short-term pain, the DJT will go down as the greatest President has ever had”. To invoke a line from Speed: “Pop Quiz, Hot-Shot…When have you ever known the US population to be willing to take some short-term pain in the last 60 years?” For me, I don’t think they’ve been willing to do that since World War II, and that’s saying something. So when the Consumer Confidence Index — a key measurement of how people are feeling about their pockets (basically) — falls to 98.3 and down 7% since last month. People are fearing a bloodbath. For their homes. For their wallets. For their futures. “Of the five components of the Index, only consumers’ assessment of present business conditions improved, albeit slightly. Views of current labor market conditions weakened. Consumers became pessimistic about future business conditions and...