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.
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