Things Fall Apart For MAGA Economy As Consumer Sentiment Crashes To Trump-Era Low
There was good news and bad news on the data front in the US on Friday.
The good news is, the Chicago PMI bounced back sharply, following two consecutive abysmal prints which served to stoke recession fears. In July, the gauge printed 44.4, a grievous miss versus consensus and 5 handles below the most pessimistic estimate from two-dozen economists surveyed. That was even worse than June's contractionary 49.7 read.
For August, the barometer came in at 50.4, nearly besting the most optimistic es
This is a highly intuitive gauge and what affects it , I believe , is the distinct feeling among polled participants that someone is attempting to fool most of the people all the time… This could lead to a herd mentality if it were to continue too much longer…
July could have been messed up by prime day and all the competitors promotions to counter it.
Just because Trump says, “Farmers love me” doesn’t make it so. Now even consumers are begininning to ignore the ‘stable genius’ claims (lies) that China is paying the Trump tariffs. No consumers and American businesses are!