- cross-posted to:
- Anticonsumption
- cross-posted to:
- Anticonsumption
Experts warn of slowing economy after score based on Americans’ financial outlooks fell by 32% since January
US consumer sentiment plummeted in April after Donald Trump’s trade war threw the global economy into chaos, according to a new report.
The index of consumer sentiment, a score based on a monthly survey asking Americans about their financial outlooks, fell by 32% since January – the largest drop since the 1990 recession, according to the University of Michigan’s Institute for Social Research.
“Expectations worsened for vast swaths of the population across age, education income and political affiliation,” said Joanne Hsu, director of the surveys of consumers, in a statement. “Consumers perceived risks to multiple aspects of the economy, in large part due to ongoing uncertainty around trade policy and the potential for a resurgence of inflation looming ahead.”
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The only thing I’ve bought these past few weeks besides food to survive is booze.
Might look into a gun.
Be careful it doesn’t look back.
That you might if you can.
Anyone can purchase a cap and ball colt legally in most states.
I won’t be able to afford Chinese goods which seems to be most of what’s sold in America now. American made will price match the Chinese goods quoting a competitive market. Right now I’m worried about affording food and rent.
Even if it’s made in the US, many of the raw materials aren’t, so the tariffs don’t even help US businesses.
Exactly why this shit is so stupid. I’m a buyer for a medical device manufacturer. I have domestic suppliers and global ones as well. Price is going up at both because of this jackassery. Also, I implore anyone who wants to make stuff here to take a flight out to Shanghai and go try n breathe.
I wonder if this will end up being worse than the great depression?
Depends on how much longer they let the president actively make it worse.
Chuck Shumer smugly cut the cable to the last remaining breaks on that train by passing the budget while not resisting or addressing illegal cuts to the government from DOGE/Musk and then he turned around and started lecturing leftists about being antisemitic for being against a genocide.
This isn’t stopping anytime soon.
An everything bubble pumped up to the max and a bunch of idiots running around stabbing everything to see if it bleeds money. It feels like this will end in “So we broke this one. Can we get a new global economic system? It’s kinda urgent.”
Usually the institution that prevents a recession from becoming a depression is an independent Fed. If Trump and his cronies get their hands on that, there is a high chance it’s going to be one.
I think we are solidly in that territory
Yes, because the tariffs already indirectly bind the hands of the Fed. Besides a bit of QT (which doesnt really help because of massive deficit), they can neither raise, nor lower rates without causing a big fire as long as the tariffs are in place, but the situation is getting worse by the day, and reality will soon hit like an empty truck.
And honestly, because of this massive shift in distrust in the US market, even backtracking all tariffs to zero would likely not work anymore.
And the most ironic thing is that due to inflation, even when everything goes back to the way it was before trump (it won’t), the US will end up with a bigger trade deficit than before, because the loss of value of the dollar.
Yet you can’t pre-order a Switch 2 anywhere, despite it being unhyped.
