Consumers Shrug Off Inflation, Get Marginally Happier
Maybe the US consumer isn't feeling so terrible after all.
Despite an underwhelming preliminary read on the University of Michigan's sentiment gauge for October, a separate report suggested the consumer mood is improving.
After three consecutive monthly declines coinciding with the proliferation of the Delta variant and escalating inflation concerns, the Conference Board's gauge rose in October. At 113.8, the headline print exceeded all estimates (figure below).
The forecast range, from 59
Ray Dalio says he would support a billionaire tax — just not this one
Wall Street owns this country and the Wall Street billionaires run it.
Speaking from a purely political perspective: it would behoove Democrat politicians to realize should they increase taxes on these people, they’ll jerk their money from the markets, resulting in a crash and leaving those with retirement plans standing around with their pants down around their ankles wearing only beer barrels held up with used suspenders.
Not exactly the way for a politician to get re-elected.
Why wouldn’t they just borrow against their portfolio to pay the tax. They would not want to “crash” the value of the remaining 75% of their wealth.
Mr H, any way to fact check this? Do 700 billionaires really control the ability/assets to crash our entire markets? Seems a bit of a stretch to me.