
Nomoneynohoney
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President Donald Trump’s volatile trade war, which threatens higher inflation, has significantly weighed on Americans’ moods these past few months. David Paul Morris/Bloomberg/Getty Images WashingtonCNN — Americans are rarely this pessimistic about the economy. Consumer sentiment plunged 11% this month to a preliminary reading of 50.8, the University of Michigan said in its latest survey released Friday, the second-lowest reading on records going back to 1952. April’s reading was lower than anything seen during the Great Recession. President Donald Trump’s volatile trade war, which threatens higher inflation, has significantly weighed on Americans’ moods these past few months. That malaise worsened leading up to Trump’s announcement last week of sweeping tariffs, according to the survey. “This decline was, like the last month’s, pervasive and unanimous across age, income, education, geographic region, and political affiliation,” Joanne Hsu, the survey’s director, said in a release. The Federal Reserve and Wall Street are watching closely how souring sentiment translates into consumer spending, which accounts for about 70% of the US economy, and whether Americans lose faith that inflation will return to normal in the coming years. Trump on Wednesday paused his massive tariff hike on dozens of countries for 90 days, but kept in place a 10% baseline duty for all imports into the US and separate tariffs on specific products and commodities. The so-called reciprocal tariffs, albeit short lived, were the sharpest increase in US duties ever on data going back 200 years, Fitch Ratings told CNN China, however, wasn’t included in Trump’s tariff reprieve, continuing a contentious tit-for-tat between the world’s two largest economies that stretched into Friday, with Beijing jacking up its retaliatory tariffs on US imports to 125% from 84%. The Michigan survey was fielded between March 25 and April 8, so it doesn’t capture respondents’ reaction to the recently announced tariff delay. The relationship between sentiment and spending In economics, surveys are referred to as “soft data” and measures capturing actual economic activity, such as retail sales, are known as “hard data.” The soft data has clearly deteriorated because of Trump’s tariffs: The latest Michigan survey showed that “the share of consumers expecting unemployment to rise in the year ahead increased for the fifth consecutive month and is now more than double the November 2024 reading and the highest since 2009,” according to a release. Yet, the hard data still looks decent. Employers continue to hire at a brisk pace and shoppers haven’t convincingly reined in their spending just yet, though retail sales have come in weaker than expected recently. “Sometimes the surveys are very negative, but they keep spending,” Fed Chair Jerome Powell said last week at an event near Washington, DC. “People spent right through the pandemic and they spent right through this time of higher inflation.” Spending by better-off Americans has played a key role in keeping the US economy humming along these past few years, but the recent turbulence on Wall Street, triggered by Trump’s tariffs, is putting that under threat. “Wealthy consumers’ stock market gains kept the economy growing in 2024 despite high prices, but the wealthy won’t feel confident enough to keep spending if this keeps up,” Bill Adams, chief economist at Comerica Bank, wrote in a recent analyst note.
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Good for Trump with all his tariffs but all over Europe we see boycotting of American produce.this ain’t going to go away quickly,on the contrary,Europeans will get used to buy and replace American products and will not go back too buy American.On the other hand Trump tarrifs on cars will raise the price of car repairs and second hand sales and car salesmen of European cars will go out of business.I won’t even mention other businesses who will loose custumors,ie MC Donald,americas great export😂 is one example.bye bye America
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The orange man supporters are at it again.not supprisingly.anyway the usa is spiraling downwards quickly.we all start to boycot your produce and on top of that we got orange man his tariffs.I hope you belong to the 5 % rich Americans otherwise welcome in your tent in PHILLY
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Make America third world country
Nomoneynohoney replied to Nomoneynohoney's topic in Political Soapbox
You’re kidding mate,except for you MAGA morons the only one which is bringing us to WW3 Is your beloved Orange man and his cronies JD and EM. -
Make America third world country
Nomoneynohoney replied to Nomoneynohoney's topic in Political Soapbox
No,I’m not a Trump supporter -
Make America third world country
Nomoneynohoney replied to Nomoneynohoney's topic in Political Soapbox
No,just saying. -
Make America third world country
Nomoneynohoney replied to Nomoneynohoney's topic in Political Soapbox
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Make America third world country
Nomoneynohoney replied to Nomoneynohoney's topic in Political Soapbox
50 baht for 15 eggs for me.how about you -
Make America third world country
Nomoneynohoney replied to Nomoneynohoney's topic in Political Soapbox
You must be American -
Make America third world country
Nomoneynohoney replied to Nomoneynohoney's topic in Political Soapbox
Homeless but not druggies on opiates and at least we try to give them shelter for the night.not like you MAGA’S who only care about you wallets.Oh look at the market,you just lost a million $ because orange man 👍 -
Make America third world country
Nomoneynohoney replied to Nomoneynohoney's topic in Political Soapbox
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Make America third world country
Nomoneynohoney replied to Nomoneynohoney's topic in Political Soapbox
Your a Trump supporter -
Make America third world country
Nomoneynohoney replied to Nomoneynohoney's topic in Political Soapbox
Just go look on YouTube mate.places like Philadelphia Kensington street just to name one whe don’t have them in Europe.And there plenty off this in the great USA where you take care off each other -
Make America third world country
Nomoneynohoney replied to Nomoneynohoney's topic in Political Soapbox
You’re post is even more boring -
Make America third world country
Nomoneynohoney replied to Nomoneynohoney's topic in Political Soapbox
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Make America third world country
Nomoneynohoney replied to Nomoneynohoney's topic in Political Soapbox
Look at at the US stock market. It’s just the start.You’re in for a tough ride.I hope you can still afford an egg at 5 USD -
Make America third world country
Nomoneynohoney replied to Nomoneynohoney's topic in Political Soapbox
I’m sure you like guns.I hope you didn’t bring to Thailand 🙏 -
Make America third world country
Nomoneynohoney replied to Nomoneynohoney's topic in Political Soapbox
Yeah MAGA 👍 -
Make America third world country
Nomoneynohoney replied to Nomoneynohoney's topic in Political Soapbox
That’s why I see all these YouTube videos with your fellow Americans sleeping on the street and high opiates.it’s just the start mate.maybe You’re next or you’re lucky enough to live in Thailand.lucky man -
Make America third world country
Nomoneynohoney replied to Nomoneynohoney's topic in Political Soapbox
Sure you have enough.off course,just like you don’t need us we don’t need you.except for Taiwan -
How long will it take before it will down on the Americans that they are going down hill with their communist regime under DT JD EM.Orange man wanted to start a trade war but it will quick come back in his face.I’m sure he will blame Biden but hey how much for an egg now.can you still afford an egg as an American.Oh and wait,us Europeans are waking up and start boycoting al american produce in the market.we don’t need America,anyway you don’t need the rest off the world so be happy and enjoy