Consumer sentiment slides to second-lowest on record

13 points by harambae 1 month ago | 9 comments
  • jmclnx 1 month ago
    No surprise here, people are seeing massive layoffs in the US Gov and Private Industries. So the will start pulling back even if working.

    Tariff Inflation really have not hit yet, but when that happens it will be a "record" drop.

    • ZeroConcerns 1 month ago
      > Tariffs were spontaneously mentioned by nearly three-quarters of consumers, up from almost 60% in April

      Well, given the wall-to-wall coverage of these things, that's not surprising. But: were these consumers subsequently asked how good they felt about tariffs eliminating their income taxes? If not, I'm sure the offending pollster-and/or-media-outlet will be prosecuted for encouraging wrongthink shortly...

      • nothercastle 1 month ago
        What are you smoking? Income taxes aren’t going anywhere
        • atmavatar 1 month ago
          That was one of the stated goals of the tariffs. Never mind that it's in direct contradiction with the goal to revitalize manufacturing, which would drop tariff income precipitously.

          It was mostly forgotten once the tariffs were implemented in such a pants-on-head stupid manner.

      • duxup 1 month ago
        I wonder with all the volatility and the traditional GOP sky is falling rhetoric ... how does consumer confidence do?
        • jqpabc123 1 month ago
          Isolation is for idiots. It is simply not a tenable approach to the modern world.

          Trump has already proved it by reducing his "Liberation Day" tariffs from 145 to 30 percent.

          What did China concede to make this happen? Absolutely nothing. They simply waited for some measure of sanity to prevail.

          Absolutely nothing has been accomplished except higher taxes (tariff=tax) on American consumers. Otherwise, it was all just an exercise for Trump to wank his ego.

          • palmotea 1 month ago
            > Isolation is for idiots. It is simply not a tenable approach to the modern world.

            Neoliberal style free trade is also for idiots.

            Now go and find a happy medium.

            > Trump has already proved it by reducing his "Liberation Day" tariffs from 145 to 30 percent.

            No. Trump is so haphazard and incompetent that him screwing something up doesn't really prove anything.

            • jqpabc123 1 month ago
              Neoliberal style free trade is also for idiots.

              It has worked pretty well for China --- are they idiots? And for decades, it worked for neoconservatives too. But apparently, it doesn't work for neofascists.

              • palmotea 1 month ago
                >> Neoliberal style free trade is also for idiots.

                > It has worked pretty well for China

                Not exactly: they took advantage of the countries that embraced it, but they never really embraced for themselves.

                > are they idiots?

                No. The Chinese leadership understands the value of protectionism and other kinds of economic "interference" that are anathema to neoliberal free marketers. That's why free trade has worked "pretty well" for them.

                > And for decades, it worked for neoconservatives too. But apparently, it doesn't work for neofascists.

                It actually didn't work so well for them, because they were creating the conditions for "neofascists" (and so high on ideology they were blind to what they were doing).

          • 1 month ago