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ProudLib72

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Member since: Sun Jan 1, 2017, 06:42 PM
Number of posts: 17,984

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Just a Reminder: 38, 40, 41 Are Gone, But You Know Who Isn't?

39



May he live to be 120!

What Is Your Spending Like This Season?

I just finished buying holiday presents today. I would say that I spent about the same as in previous years. However, I do believe that there is a lot of uncertainty this year. The DOW lost all of its gains, then rose slightly. Unemployment is down, but thousands are getting laid off by GM and farmers are barely scraping by. So I'm unsure whether the market is still being driven by the last quarter, or if people really do have a bright outlook overall. What say ye?

According to the nooze, consumer spending is up (although this is based on 3rd quarter spending):

U.S. Consumer Spending Picks Up; Inflation Below Forecast
Americansí spending rose by more than forecast in October, giving the biggest part of the economy a solid start to the quarter, while a measure of underlying inflation cooled to the slowest since February.

Americansí spending is poised to keep driving growth this quarter, supported by a strong job market, lower taxes and improving finances thatíll likely also boost holiday spending. Even with the weaker inflation readings, the Fed is widely anticipated to move ahead with an interest-rate hike in December, though the pace of moves beyond that is less certain.

Consumer spending, which accounts for about 70 percent of the economy, had been projected to moderate this quarter after rising in the prior three months at a 3.6 percent annualized pace that was revised down from 4 percent. The economy also is forecast to cool, after the best back-to-back quarters of growth since 2014.
https://www.bloomberg.com/news/articles/2018-11-29/u-s-consumer-spending-picks-up-while-inflation-below-forecast


If I weren't such a cheap bastard and actually bought a star so I could conduct a poll, I think my choices would be:
1. Lots of confidence
2. Meh, sort of confident that the market will hold for at least awhile
3. Not confident at all but what the hell, I'm going to spend my savings this season
4. I've put my money in a shoe box and am currently holding onto it tightly as I cower under my bed

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