ARE - Everything On My Buy List For The First Week Of June
2024-06-01 08:10:00 ET
Summary
- Despite strong economic indicators such as high employment and rising wages, consumers are pessimistic about the US economy.
- A recent poll found that 56% of Americans believe the economy is in recession, highlighting the disconnect between perception and reality.
- Factors such as inflation, high levels of debt, and government spending are contributing to consumer pessimism and a mixed and nuanced view of the economy.
- This economy is hard to categorize, but there is definitely some fragility under the surface that doesn't get much attention in the media.
- My buy list has gotten pretty crowded, but I do my best to do each pick justice with a brief pitch.
I have a riddle for you.
Total employment is near an all-time high. Wages are rising faster than inflation. Retail sales remain robust. Airline travel is reaching record levels and expected to go even higher this summer. The stock market is within a few percentage points of all-time highs.
It was the best of times...
And yet, consumers are dour about the economy.
Most people think the US economy is currently in recession. About half of the population also believes that unemployment is at a 50-year high and that the stock market is down this year. (The opposite is true in both cases).
That's according to a recent Harris Poll commissioned by The Guardian. The key finding of this poll is that 56% of Americans think the economy is in recession right now.
The University of Michigan consumer sentiment index likewise shows a recent plunge back toward recessionary levels....
Everything On My Buy List For The First Week Of June