The US consumer might be a cause for concern, but the latest Conference Board survey of consumer confidence doesn’t show any cracks. The view of the present situation as well as expectations about the future are the highest since the late 1990s.
The survey results come despite the fact that, as we wrote earlier today, US households are now saving just 2.4% of their disposable income, barely above the record low registered just before the 2008 financial crash.
IT S CALLED THE WALL STREET EFFECT!!PEOPLE ARE POUNDED DAILY ON HOW HIGH THE MARKETS HAVE FLOWN. AND START BELEIVING THE LIE ""THATS THE REAL"" ECONOMY. WHEN ITS THE FED RES DUMPING NEAR ZERO INTEREST MONEY ON THE MARKETS. THEY THEM SELVES HAVE THE LARGEST TRADING DESK IN THE BUS. PLUS CREDIT CARD DEBT IS THE HIGHEST. AMERICAN WILL SPEND WHAT EVER ,""TO KEEP PACE WITH THEIR INFLATED LIFE STYLE.