Young people vs older people consumer confidence
We can call this our chart(s) of the day. We have been talking a lot recently about the rising consumer confidence since the election. When taking a closer look there appears to be a divergence between the younger and older crowd. Here is the first chart showing the consumer confidence of those under 35 (white line) and those over 55 (blue line).
(All charts courtesy Bloomberg)
A closer look at the over 55 demographic and we see they have not been this confident since 2007.
The final chart shows how optimistic people who make between $50k and $75k are… This goes all the way back 2000!
Now these charts could mean nothing in the long run but I continue to believe that too large of a group have put their faith in Trump to make changes that will be very difficult. Even if he can change some of the fundamental issues with the US economy (not to mention the global economy) they will take time.
A big thanks goes out to Joe Weisenthal (@TheStalwart) for bringing this to my attention!
Pardu, what you describe is a family that lives within it’s means, that is normalcy and that is what I want to see now in the western world. The United States duty is to assist by example, and if they live more like you do it will have a profound effect on the rest of the world. I also live a similar lifestyle to you. DT
A lot of those over 55 are probably in debt with no retirement savings and beginning to wonder if they will ever retire. In that situation a white knight like Trump is their last hope.
Trump, siverdollar is not their last hope, food stamps and welfare are their ruin, Trump is a new beginning. DT
I am sure those on the Titanic were confident that the ship was unsinkable and after striking the iceberg, were still confident, if not optimistic, that surely the captain and crew were capable of overcoming the damage. In the end, it was a mathematic certainty that the ship could not stay afloat with five compartments flooding. It would be a matter of time. I see the same scenario with us. Too much damage to the economic stability has occurred and it is a mathematic certainty that our ship of state will finally succumb to the damage caused by the debts and cumulative poor policies over the years. Those in power, like the pumps on the Titanic, are only buying us time until the inevitable comes to pass. The best lifeboat we have at our disposal as individuals and families is to minimize the damage we may suffer due to poor policies of our leaders, by getting or staying out of debt, putting aside cash and ounces, and living below our means sufficiently that we may be able to be charitable and assist those in need. Storing some food and commodities that we will always need is a nice addition to our ability to weather many future potential difficulties. Just a thought. Staying out of debt and living on less over the years have made my family able to weather the challenges we faced at times and made it possible for us to retire with confidence, having the tools necessary to be ok come what may.