One fact that I did not point out about the drop in consumer spending in April is that drop from March to April was the biggest monthly decline since 2009. That was the depth of the great recession.
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Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
Jun 2, 2014
U.S. Economy: Where Is The Bounce Back?
So, what do we got? We got the consumer not earning as much as we thought, spending dropping, inflation picking up...
How is this going to lead to this big surge in the second quarter GDP?
Seventy percent of the GDP number is consumer spending and consumers spent less in the first month of spring than they did in the last month of winter? Where is the bounce back?
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
How is this going to lead to this big surge in the second quarter GDP?
Seventy percent of the GDP number is consumer spending and consumers spent less in the first month of spring than they did in the last month of winter? Where is the bounce back?
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
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