spending at eating establishments is up nicely. suggesting the economy is growing nicely.
Have you ever watched how that" eating out" bill is paid for.
I would bet at least 90% is paid with plastic
Have you researched how large the principal amount of unpaid plastic debt amounts to
More than 1 trillion of unpaid revolving principle plastic debt
At roughly 15% plus interest rates
Is America feasting on debt???
Some 30 or so years ago we had a meat distributor talk to our livestock group about meat demand and how it relates to the economy... He said that when times were lean and people didn't have enough money to buy big ticket items but they had just enough to "eat a little better" and would eat out more or purchase better cuts of meat which translated into better meat demand. The more things change the more they stay the same. History repeats.
The fact of the matter is that the economy is expanding and more people are working than ever before and they are starting to make more money. Looking at the revolving credit aspect of consumer debt shows that people are starting to use their credit cards again, (actually have been for a few years) but on no where near the level they were prior to 2008.
... THIS MEANS UNEMPLOYMENT IS GETTING VERY LOW AND CORPORATE CREDIT CARDS ARE STARTING TO BE USED TO TAKE OUT CLIENTS TO BUY THE 45-LB LOBSTER FOR AN APPETIZER AND 68 DOLLAR RIBEYES FOR A MAIN COURSE
Sept shows a dramatic drop in restaurant meals, also auto sales and other stuff I can't remember. Used car values have dropped
Some say restaurant meals will rebound after hurricane effects
Stk market may be a concern. I said it 1st here as I think stk markets world wide are a big concern
Saudi effect [oil] has yet to be decided.
I wonder if people think 1 life is worth 200 oil??. I suppose it depends if that life was a family member or just a name in the media
If unemployment was calculated the same as it was in the time of Jimmy Carter unemployment would be approx. 10%
Some people are drinking the Kool Aid about a strong economy. Most jobs are minimum wages service industry. Open borders are still letting people in to compete against blue and white collar jobs to keep wages down
If Int rates go 1% higher over time, then you will see how strong the economy is. The economy and all of gov't spending is built on cheap debt.
House start permits are less even with this small int rate bump. High priced N. Y rents are in free fall with no takers
How many empty shopping malls do you see
Sears filed for BK. Hoping to keep some stores open for the Xmas sales
Some toys stores are BK due to tariffs and competition
All signs point to economy slow down and shifting consumer spending. That might be different means of purchase or less spending
Too soon to really know but signs are not all positive