Consumer discretionary spending pullback

[WendyBG]

Here is a good article from Wells Fargo Economics showing a pullback of consumer discretionary spending in services and a pull-forward in goods. They are concerned because consumers have shifted their behavior in the wake of tariffs.

Discretionary services spending has declined. On a year-over-year basis, discretionary services spending is down 0.3% through May. That is admittedly a modest decline, but what makes it scary is that in 60+ years, this measure has only declined either during or immediately after recessions.

Coupled with today’s inflation numbers the trend is toward stagflation.

Wells Fargo - Hiding in Plain Sight

Wendy

[Leap1]

We will be a nation of grunts in factories.

[iampops5]

I am bumping this thread up because I think your article is a worthwhile read.

[steve203]

@Leap1

We will be a nation of grunts in factories.

That is what I have been suggesting, by extrapolating efforts to bring factory jobs back to the US, while defunding education.

Steve

[Leap1]

@steve203

while defunding education.

This is good for the professional class ranks. We can not have equality at the expense of those students any longer.

It is not binary. It is an emergence of a culture.

“Those not busy being born are busy dying”.