Consumer Spending Beats Expectations – Shoppers Reject Phony Media Recession Fears…

If you needed any empirical evidence to prove the doomsday proclamations by the financial pundits are false claims, just look at the July consumer spending results. July spending more than doubled expectations.

July results were +0.7 percent, against the economic forecast of +.03 percent.   Consumer spending makes up over two-thirds of the U.S. GDP and overall economy. Doesn’t exactly sound like Main Street is on the precipice of a recession. Oh my.

Average wage growth remains +3.5% year-over-year.  The growth of overall income for American workers exceeds +5.4 percent year-over-year.  Unemployment is a low 3.6% and U.S. consumer inflation remains low at 1.4 percent.  Meaning: the middle-class has more disposable income to save or SPEND; and that’s what is happening….

  • Reminder #1: Consumer spending is two-thirds of the U.S. economy.
  • Reminder #2: We consume more than 80 percent of our own production (products created in USA).  We do not rely on exports.
  • Reminder #3: Because of #1 and #2, the “Main Street” U.S. economy is self sustaining -much stronger- and more protected from the negative impacts on the global economy.
  • Reminder #4: Who/What is at risk from global contraction? The Wall Street economy (compromised primarily of multinationals).  What is not at risk, the Main St economy.
  • Reminder #5:  Because of #3 and #4, Wall Street can drop while Main Street thrives.

This is the fundamental disconnect. These Main Street results, this dynamic, is the space between two economic engines that CTH has been describing for three years.  The investment class on Wall Street can go through pain, while the middle-class on Main Street thrive.  We are in the space between.

Wall Street Journal: WASHINGTON—American shoppers gave the U.S. economy a solid boost in July, a counter to weakness in the manufacturing sector and Wall Street jitters about faltering growth.

Retail sales, a measure of purchases at stores, restaurants and online, climbed a seasonally adjusted 0.7% in July from a month earlier, the Commerce Department said Thursday.

The robust report—the strongest reading since March and a sign that American consumers remain a source of fuel for the economy—is a positive signal for the U.S. amid warning signs of a global economic slowdown. (link)

Oh noes, the Deplorables are shopping:

Walmart (WMT) beat expectations on both the top and bottom lines for its second quarter. The world’s largest retailer also boosted its fiscal 2020 adjusted EPS and same-store sales forecast. Walmart shares soared 5% as of market open Thursday.  (read more)

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138 Responses to Consumer Spending Beats Expectations – Shoppers Reject Phony Media Recession Fears…

  1. sundance says:

    Liked by 21 people

  2. Dee Paul Deje says:

    Recession 2019. Resist.

    Liked by 3 people

    • Mike says:

      We must 😉

      Like

    • swimeasy says:

      Love it Dee Paul! Thanks SD! The timing of this is so in-your-face oligarchs! The Deplorables punch back twice as hard in grand Trumpian style!

      Think I’ll go do my part to help get it closer to 80%!

      Liked by 4 people

      • SwampRatTerrier says:

        That’s us Deplorables and Stinky Walmart Shoppers for ya.

        “Walmart (WMT) beat expectations on both the top and bottom lines for its second quarter. The world’s largest retailer also boosted its fiscal 2020 adjusted EPS and same-store sales forecast. Walmart shares soared 5% as of market open Thursday. (read more)”

        Liked by 2 people

  3. SharonKinDC says:

    This latest effort is failing, just like all the other BS ‘get Trump’ attempts.

    Liked by 11 people

    • sunnydaze says:

      It seems the Propagandists are beginning to re-think their stupid “Recession” BS.

      Today I was flipping around the “news” stations and actually heard with my own ears:

      “So, there’s a recession, but not in the “economic” sense”

      ????!!!!?!?!???!!

      Wish I could remember who it was and wether CNN or MSNBC.

      Anyway, be prepared for your unhinged #Resist family members, friends, etc. to be spouting this nonsense in the coming weeks…… It’s a Recession, just not an Economic Recession!!!

      Liked by 6 people

    • steph_gray says:

      When I saw the market go back up today (and I expect it won’t take long to roll back to exactly where it was), I thought: The yellowstream media has finally had it!

      No one believes them on all the other B.S. and verifiable lies about everything else. So now when they think they can just tank the market with new economic B.S. and that the “rubes” will go on believing them… a giant collective public yawn.

      They are really, finally, being ignored. Chicken Little is headed for the chopping block.

      It’s splendid! Thanks to VSGPDJT!

      Liked by 1 person

  4. sundance says:

    Liked by 14 people

  5. repsort says:

    What did consumer debt do?
    All time highs.

    Like

    • littleanniefannie says:

      Don’t worry snowflake, the Dems are going to pool their salaries and perks (but not their lobby pay) to combat student loan debt. That will help.
      BTW, I realize that your fear of global warming is because snowflakes don’t do well except in sub-zero temps!

      Liked by 1 person

      • yadent says:

        Actually consumer debt is at all time highs as is student loan debt (https://fred.stlouisfed.org/series/CCLACBW027SBOG). How’s that debt compared to median income? Has median income gone up by a factor of four since 2000, as has credit card and other revolving debt? Have “zero interest rates” made for lower credit card interest rates? It does not matter how much you make in dollars; what matters is what percentage of what you make you get to keep after all mandatory expenses.

        Like

        • aisheschayal says:

          My salary went up at the beginning of the year because of competition for employees. Thus, I have been able to pay down my debt, including student loans, significantly over the past 7 months! I attribute this to President Trumps economics. My daughter is thinking of opening up a small business, we wouldn’t dare think of that 3 yrs. ago.

          Liked by 4 people

        • Ghost says:

          Observation from a smaller limb.

          Bea last report, waiting for the next but meanwhile

          $827B Credit cards and other revolving plans
          $999B in personal savings
          net difference + $172B. in favor of savings.

          It is always better to look at the whole picture rather than just half of the equation.

          Personal income + $83.6 B // +04%
          Disposable income + $69.7 B // + 0.4%
          Personal Consumption Expenditures. (PCE) (current dollars) + $44.2B +0.3%

          Personal Savings rate; $1.34 Trillion / 8.1%

          Price indexes:
          Month to month
          PCE: 0.1 // down from 0.2 in May

          PCE, excluding food and energy: 0.0 // down from 0.1 in May

          Year to Year
          PCE: 1.3
          PCE, excluding food and energy: 1.6

          Current personal saving rate equal would be between the annual GDP Australia (14) and Mexico (15) up 2 countries annual GDP from last month now ranking 15th on the world list.

          https://www.bea.gov/news/2019/personal-income-and-outlays-june-2019

          😎

          Like

    • Dennis Leonard says:

      Here is something else for you to worry about,those solar panels on your roof have bird poop on them,you got bigger problems than worrying about consumer debt.

      Liked by 5 people

      • Carrie2 says:

        Dennis, and now we know solar actually increases heat so nothing gained but a lot lost with big money to buy and upkeep.

        Like

      • GB Bari says:

        My panels have been up there for 7 years this month, and so far, all the bird poo has been constantly washed off by the rain and snow. In fact, they get really clean when a few inches of snow accumulation breaks loose and slides down and off the roof, wiping any accumulated dirt from the surfaces. Snow doesn’t stick too well to the smooth panels at a 30 degree elevation. 😎

        Like

    • Greg1 says:

      My debt was at an all time high in 2008. I was working lots of overtime, managing the debt, and still having money left over. I had worked all the overtime I could handle for yearssssssss, and gotten used to it. Monumental mistake.

      My wife had a spending problem. And the fact of the matter is, so did I. Then the recession hit. All overtime came to a halt in one month.

      I got destroyed in the recession. I will never be able to retire.

      We accepted personal responsibility for our spending. We changed our behaviour. We climbed out of the hole.

      It was ugly. There will always be scars. We did this to ourselves.

      Now, we manage money much better. We actually work together, paying the bills.

      People who are getting themselves into massive debt need to sit down and get brutally honest with themselves. And they have to change their attitudes and behaviour. Dave Ramsey is your friend. Read his books. Do what he says.

      Debt is cancer, either you kill it or it will kill you. That’s my quote. I say it often. It’s the TRUTH.

      Liked by 6 people

      • fred5678 says:

        I discovered Dave 5 years ago, made a spreadsheet to manage and schedule all payments, started a Roth, and never looked back.

        Like

      • kddomingue says:

        My husband and I have been through 3 recessions in almost 40 years of marriage. We had debt in the first and second one but stayed afloat by the hardest. I think that, unlike many of our contemporaries, we survived because we had never bought into the “keeping up with the Jones” mindset. So while we had debt, it wasn’t a bankruptcy amount of debt like many people we that knew had. I agree with you, debt is like cancer. Only cancer will kill you and debt will just make you wish you were dead. 😉
        Glad y’all made it through the valley of debt and out the other side in one piece!

        Liked by 1 person

        • Matthew LeBlanc says:

          Debt is the lefts new slavery. The future of the world for them is serfs who work to survive and pay off debt.

          Liked by 2 people

          • TheLastDemocrat says:

            this is practically true.

            In the old days, you could voluntarily enter into indentured servitude:

            you had to work for one person, with whom you had contracted, for a certain amount of time, after which you had worked off debt or your bill for room and board for those years, and maybe got a lump of money.

            Nowadays, we are in a better deal: we voluntarily agree to debt, but we work not for the party holding the debt but work for someone else – and we can move from job to job.

            same, but diff: break between deby holder and employer.

            either way, we work / earn until we pay off that debt, into which we voluntarily entered.

            Like

            • s says:

              RE: “indentured servitude” – just slavery by another name.

              I’ve read lots and lots of indentured folk died before their contract was out – due to “employer” mistreatment, too little and too poor food, etc…….

              Like

      • Dekester says:

        Greg1,

        Thanks for the post. Especially reckless consumer debt.

        Now sensible investment debt is a bit different. PDJT built quite the fortune utilizing leverage and debt.

        God bless PDJT

        Liked by 1 person

        • Ghost says:

          @ Dekester
          Personal disposable income U.S.
          16,543B
          Personal Savings U.S.
          1,345B ..8%
          All Personal revolving debt
          827B,,, 5%

          looking at one side doesn’t provide a clear view for an informed decision.
          not reckless debt when viewed as a whole.

          Like

        • Carrie2 says:

          Dekester, my husband is an Enrolled Tax Agent and still people don’t want to accept less than 20-30 debit or credit cards and don’t have a clue how to pay them down because they have spoiled themselves spending for this, that and the other, travel, expensive cars, a BIG TV, etc. They then try to go bankrupt and find out a lot of what you owe you will still have to pay and that may mean selling the house, etc. Nothing is free! and every bill should be paid asap and stop and think “do I really need this”.

          Like

          • steph_gray says:

            I accumulated a large credit card debt in the late 80’s. Put myself on a paydown schedule and stuck to it. Within 3 years the debt was gone and I had a house down payment (just enough).

            I was mortgage poor for about 5 years because I never again ran a credit card balance. Every card paid in full every month, always (those companies hate me 😆). Occasionally I use a 0% interest deal which I pay off very early and never enter into without knowing I have enough to cover it if need be, so as not to put a strain on my budget.

            My first house sale paid for my second smaller one, and now I’ve retired debt free.

            I wasn’t wealthy – I just kept debt free after my initial mistake. Being debt free pays off.

            Liked by 2 people

      • TreeClimber says:

        We have a car loan. That is our only loan. If we get a chance we’ll probably add a mortgage to that, but I don’t have a credit card – never have, in fact I don’t have a credit score – and neither does he. We pay rent and utilities and our car payment and we just don’t get into debt. Sometimes having a card would be helpful, ( 😛 ) but we haven’t done that. Don’t intend to.

        Liked by 1 person

      • SwampRatTerrier says:

        I’ve always heard you only have two choices – wear out or rust out.

        Hopefully you can pace your work and enjoy some leisure time for the rest of your life also.

        Some of us for the last 3 decades weren’t given a choice. Low paying, greedy employers (yes even governmental ones) kept us working more and more and more and the compensation was only an extremely small fraction of the benefits the employers were getting from that overwork.

        Like

        • sturmudgeon says:

          Sounds as though you were unwilling to “adjust” your lifestyles to your “means”. You always have a ‘choice’.. (and at 84, I have been ‘through it all’, so I believe I have the right to state that.

          Like

      • sturmudgeon says:

        Fortunate to have had the parents I had… “debt” was shameful… save until you had enough to buy what you wanted/needed… THEN buy… In today’s world, if you use credit cards… pay off the complete balance each month (perhaps you get a percentage discount or some other enticement) but DO NOT use the cards for any more than what you are CERTAIN you can ‘clear’ at the end of each billing cycle. Simple, worry-free… but it takes will-power… no excuses… you will feel so much relief you will always have a smile on your face.

        Like

  6. Pa Hermit says:

    How do we hold these pinheads accountable to their views/positions? Paybacks mean zero to these entities, there should be a way to let them feel the push back through the almighty buck!

    Liked by 2 people

  7. Nick the Deplorable says:

    I think yesterday was a test by the media to see if they could crash the markets on fake news alone. There will be more of this in 2020.

    Liked by 4 people

    • sunnydaze says:

      They tried the same after (and before) the U.S. election, and BREXIT.

      Liked by 4 people

    • The Boss says:

      Look…
      The Chicoms and the EUrotrash have no qualms about screwing their own populations via currency manipulation to make life tough for President Trump. Both command economies don’t hold a candle to the US. Neither group possesses the DNA or intellect to compete with Yankee Ingenuity. No wonder they miss scum like the Cliintons, Obama, etc.

      Liked by 5 people

    • snellvillebob says:

      I fully expect $oros and his globalists friends to crash our economy about 6 months before the election to prevent President Trump to call the economy a success. This is what those people do.

      Like

      • wcmcgirt says:

        Don’t think that they haven’t been trying to do this for 2.5 years. Eight Fed rate increases the first two years of @POTUS’ administration vs. one rate increase during Obama’s eight years. Doom and gloom on all the business channels. Tariffs gonna kill us, ad infinitum. Impeachment, collusion, 25th Amendment, “wear a wire”, zero Congressional cooperation.

        And none of it is working or will work.

        Liked by 3 people

      • OSP says:

        You can crash the market, not so much the economy. Wall St. vs Main St.

        Liked by 3 people

        • Sharpshorts says:

          Agreed OSP
          In this article and others, sundance points out the Globalist/Wall Street crowd have very little exposure to Main Street today. They are scrambling to adapt, just to survive.
          Those would-be influencers are heavily exposed to the countries on the brink, whose economies are feeling Trumps economic heat.
          IMO they are like the horse & carnage or buggy whip companies of the early 1900’s…

          The rest of the world needs our markets, we do not need theirs.
          More Huge Winning is coming!

          Like

    • Bert Darrell says:

      Nick; maybe you didn’t notice but yesterday was not the first left’s test on the stock markets. They have been trying and trying. Remember last December? After a few days, investors smell the coffee and come back because there is no better investment around at this time … and there won’t be for a while.

      Losers will always lose and PDJT will always win because he knows the truth. He tweeted it already, didn’t he? His (our) enemies just know how to lie. And lying is what the fake new media does for a living. As I’ve said before: CNBC is a good source of raw data but stay away from their fabricated news. Same for Murdoch’s Wall Street Journal.

      Liked by 4 people

      • zorrorides says:

        Most stock market watchers do use the word ‘investment’ for the buying of stocks. But I remember way back when many stockmarket advisors cautioned that the stock market is more truly called a ‘speculation’.

        Now a real ‘investment’ would be putting your money directly into a tangible portion of the Main Street Economy for purposes of growth and return.

        Can Wall Street fall and America grow rich, at the same time? Yes.

        Like

        • Bert Darrell says:

          Zorro: if those individuals you are referring to “cautioned that the stock market is more truly called a speculation” (a word with negative connotations) they were not truly advisors but opinionated. The markets (i.e., the investors) encourage producers to be successful by providing the funds they need to succeed and grow companies. Despite fluctuations (large and small) the stock market averages have been going systematically up over time, in large part due to investor confidence on dreamers, and overall managerial prowess.

          When many people with money to spare join in buying shares of a Boeing, Caterpillar, Intel, FedEx, etc. they are making it possible for the leaders of companies to undertake production at larger scales and expand. After that, if they want to sell their shares to do something else with the gains they are rewarding themselves for their good investments.

          It may be that, because some time losses are sustained, investments look like speculation; clearly an opinion. I know of no investment that is devoid of risk but I am aware of the ageless rule: “no risk, no gain”. When it comes stock markets, my view is that the results over the past 100 years have put the USA ahead of the rest of the world.
          What is it that made the difference? FREEDOM.

          Like

          • zorrorides says:

            Thanks for replying Bert, I’ll agree with you here, tho not approve every step of logic. The USA’s stock market results since 1919 haven’t put our nation ahead of the rest of the world. The real prime mover is FREEDOM (Under God) and the measurement of success isn’t found in the S&P or NASDAQ. My point is, there may be a time coming when we the people can more easily save and invest in our American Main Street economy.

            Peace, and may all your stocks increase.

            Like

    • Carrie2 says:

      Nick, what is interesting is that it is normal EVERY WEEK for ups and downs and that is how the smart ones know when to sell and when to buy. In any case, I can remember when $700 as a big thing and no one even thought of it getting higher. Thanks to a great President, anything beyond $700 is super and when into the 25K or more more, WOW! so nothing but lies are pitched while Wall Street gets richer.

      Like

  8. DJT2020 says:

    Can someone just once show me an economic indicator (jobs report, consumer spending, wage groweth, etc) that did not “shock” “stun” or “surprise” the “experts”? Every friggin’ time an article comes out it is “unexpected”. It’s comical at this point.

    Liked by 10 people

    • littleanniefannie says:

      That’s because they aren’t “woke” to the realities of Trumponomics!!

      Liked by 2 people

    • leftnomore says:

      Exactly… the “unexpectedly” adjective is so shopworn it only reflects on the editor. Perennially shocked!

      Liked by 1 person

    • DiogenesVindicated says:

      Yesserie! Someone find a way to count the number and rate of ‘surprises’ from MAGA economic reports for each resistance source to drive home their deliberate attempts to torpedo the economy. let’s then illustrate the inversion of those numbers made in support of ‘you know who’ to ram home the bias to those who would listen.

      Liked by 2 people

      • Dutchman says:

        Do a video, like the “begining of the end” one, only over and over “shocked/stunned/ surprised by these robust economic #’s.
        And another, every prediction of economic calamity.
        Make part of the 2020 election running against the lieing media, and part against the lieing, do nothing CONgress.

        Liked by 2 people

    • SwampRatTerrier says:

      Stunned un-expecting expert.

      Like

  9. littleanniefannie says:

    The Dems views on the economy are pretty much along the lines of this excellent job:

    Liked by 11 people

  10. dufrst says:

    Consumer spending and confidence will keep going up for three reasons

    1. Lower interest rates – Because of trade woes, nations around the world are devaluing their currency, causing a flight to safety to US treasuries. The flattened yield curve has forced the Fed to lower rates despite a strong US economy. Lower rates means more consumption of homes, cars and consumer goods.

    2. Strong dollar – Puts a lid on commodity prices such as oil and this directly affects inflation in the overall economy

    3. Higher Real Wages – The low unemployment rate has incomes rising as employers compete for workers (not to mention tougher illegal immigration enforcement).

    The economy will expand powered by the consumer, who perhaps is in the strongest position ever with low interest rates, higher wages, and higher equity returns (strong dollar). This trifecta will sustain the expansion and deliver higher GDP numbers as trade deals are delivered such as USMCA.

    All of this has been initiated by Trump’s economic policies of cutting taxes, cutting regulations and unleashing American energy. These policies caused the job gains which led to the wage increases. Trump trade policies are leading to the stronger dollar and lower interest rates that are going to super charge the expansion, taking a good economy to a great one!

    Sorry libs and enemedia! This Trump economy is picking up steam not losing steam! MAGA!!

    Liked by 4 people

    • fred5678 says:

      “3. Higher Real Wages – The low unemployment rate has incomes rising as employers compete for workers (not to mention tougher illegal immigration enforcement). ”

      Check the sign-on bonuses for truck drivers these days!!

      U-Haul is becoming MUCH cheaper than U-Pack or movers if you drive yourself.

      Liked by 1 person

    • GB Bari says:

      “Lower interest rates”

      Yeah they re lower than they were 3 months ago, but has anyone looked at consumer credit card interest rates lately? They are through the roof when compared to home loans, car loans etc.,

      Cards right now are mostly around 18% to all but the most credit-worthy consumers, and approaching 30% in many cases for those with less-than-stellar credit.. This is usury IMO, but I don’t see ANY complaints about it in the national media. Gasoline cards are the worst – upwards of 28% regardless of the customer’s superior credit rating; they obviously don’t want customers to carry any balance.

      Even at just 16%, a person carrying a $5,000 balance accumulates $67 in interest per month.

      At 25%, that same $5,000 balance generates $104 of interest per month. Yet the banks only require minuscule minimum monthly payments that hardly reduce the principle.

      This is the simple math that gets so many folks in trouble with credit.

      Liked by 1 person

    • Post of the Day, Dufrst!

      Liked by 1 person

    • Wilburine’s most brilliant point (CNBC) was and will be completely overlooked for its fundamental insight and elegant simplification

      Summary recap:
      How to SUSTAINABLY GROW GDP:

      • SIZE of AVAILABLE LABOR FORCE
      (pretty-well established … pending Deportations & Merit-Based Immigration)

      [multiplied by]

      • LABOR-FORCE PARTICIPATION GAINS
      (Sidelined Workers returning & Part-Timers going Full-Time)

      [multiplied by]

      • PRODUCTIVITY GAINS
      (Deregulation, Re-engineering, Innovation, AI-Automation-Robotics)

      Like

  11. Perot Conservative says:

    Sweet!!!

    Is the manufacturing ‘recession’ minor? Chance of a rebound with inventories low?

    Like

  12. dustahl says:

    Oil baby Oil, no recession with energy independence along with other policies

    Liked by 2 people

  13. MicD says:

    If only the Squawk Box kids were more belligerent :p
    The worlds largest economy run by the Brightest minds in the Business.
    What could happen?

    Liked by 1 person

  14. Greg1 says:

    How many times will the anti-Trump people on Wall Street and their media allies do this until the PEOPLE start to see the games they are playing? If people sold and lost a pile of money believing this stuff yesterday, only to find that it ain’t even close to true, how will that affect their trust in Wall Street and their allies in the media?

    “Woke” is a thing now. What will liberals do when conservatives, or even other liberals get “woke” to the stupid games of the left?

    Trump 2020!!!

    Liked by 2 people

    • aisheschayal says:

      I am ignorant when it comes to economics but I am hoping the Wall Street “bigs” will get wise to this and come on board. The mothership of democratic style economics (sell out America) is slowly sinking and the big money corps will jump ship rather than give up their riches. Money speaks louder than politics and if the China tap is run dry, they will tap elsewhere.

      Like

      • NC Patriot says:

        All the talking heads on MSM are also “ignorant on economics” too. They are just repeating the leftist talking points, That is why we need to ignore them.

        Read POTUS twitter. That will give you your “daily briefing”. Because he tells us what he thinks and what we should know. Forget the breathless hysteria.

        Like

  15. Duke of Cumberland says:

    Reminder #3: Because of #1 and #2, the “Main Street” U.S. economy is self sustaining -much stronger- and more protected from the negative impacts on the global economy.
    Reminder #4: Who/What is at risk from global contraction? The Wall Street economy (compromised primarily of multinationals).  What is not at risk, the Main St economy.
    Reminder #5:  Because of #3 and #4, Wall Street can drop while Main Street thrives.
    This is the fundamental disconnect.

    Yesterday’s and today’s stock indices are Exhibit A. Phony recession rumors? (OMG!) DOW down 3%. Consumer spending up 0.7% over the previous month? (Yawn) DOW up 0.47%

    Also good to see gasoline dropping again; back down near its June low.

    Liked by 4 people

  16. OhNoYouDont says:

    60% of farmers in Iowa, Minnesota and Illinois support Trump’s tariffs on China, 14% are neutral.

    https://www.oann.com/poll-farmers-support-tariffs-on-china/

    A survey conducted by Iowa State University has found that farmers in Iowa, Minnesota, and Illinois support President Trump’s tariffs against China. According to the study, nearly 60-percent of respondents in those states expressed support for the ongoing trade war, while 14-percent had neutral feelings on the matter.

    This comes after Beijing announced earlier this month it would be suspending purchases of all U.S. agricultural farm products in response to the Trump administration’s recent round of tariffs targeting $300 billion in Chinese imports.

    Although the heightened trade tensions between Washington and Beijing has resulted in a near $10 billion decrease in U.S. agricultural exports to China, domestic farm exports have continued to rise. This suggests other countries have started buying products that China has dropped.

    Liked by 2 people

    • snellvillebob says:

      No, China is buying crops from other countries so the countries that used to buy from these other countries, are shut out and are now buying from us. It is just a realignment of suppliers with purchasers.

      Like

    • kddomingue says:

      My understanding is that China has little arable land…nowhere nearly enough to sustain it’s population. The United States can survive without imports. China cannot.

      Like

    • kddomingue says:

      My understanding is that China has little arable land…nowhere nearly enough to sustain it’s population. The United States can survive without imports. China cannot.

      Like

    • ezgoer says:

      China better watch out because 2 can play that suspend all purchases game. And China has a lot more (5X) to lose than the USA.

      Like

  17. Ausonius says:

    Rush Limbaugh today was delineating how the globalists had MAObama in their pocket to loot the middle class in America – and anyone else nearby – by having MAObama tell us the “new normal” was 1% growth, if that, and that manufacturing employment would be something done in the Third World.

    Rush Limbaugh also quoted a CEO that if one American had to be unemployed so that 4 Chinese or Indians could be raised up into a quasi-middle-class (for the Third World), then the trade-off was worth it.

    To create a Global Order of elites, nation-states had to be destroyed through illegal immigration and international courts overlording sovereign countries.

    Not a bad analysis!

    Liked by 4 people

    • MAGADJT says:

      That part of the show was very well communicated and spot on today. Rush at his best. One clarification, the CEO that said he was ok with a 1/4 ratio of unemployed middle class Americans if it favored 4 third world people was the CEO of a hedge fund.

      Liked by 4 people

    • jnr2d2 says:

      OBAMA WAS A EUROPHILE SOCIALIST. WE WERE HEADING TOWARDS EUROPE’S STAGNATING ECONOMIES WITH LITTLE GROWTH AND 7 TO 15% UNEMPLOYMENT

      Liked by 2 people

  18. MakeAmericaGreat says:

    POTUS is having none of it. He knows what the media is doing.

    Liked by 6 people

  19. Mike in a Truck says:

    YOU have greater power than the MSM, turd Democrats and Rinos combined! You have the dollars and you can choose how to spend them. Cut the cable-this hurts the MSM as they get a cut out of your cable bill whether you watch them or not. Boycott products/ companies that dont support your values. Gillette has taken a butt kicking over their retarded transgoofball campaign. And if the kids whine they have no t.v. remind them that for 90% of the people in this world life sucks.

    Like

    • MicD says:

      “And if the kids whine they have no t.v. remind them that for 90% of the people in this world life sucks.”

      And then the die.

      Like

  20. Albertus Magnus says:

    Go back to Brietbart with that crap.

    Like

  21. James F says:

    I’m old enough to remember when economic depressions resulted in soup lines, not long lines at the register.

    Liked by 3 people

  22. flyoverfuji says:

    I did my part to contribute to July spending — new washer, dryer and dishwasher.

    Liked by 1 person

  23. OSP says:

    I wouldn’t be surprised to see the stock market take a big dump in tnext next month or so. Then get on board.
    Buying opportunity, imo.

    Like

  24. Zippy says:

    The stock market really doesn’t matter much. The financial system (DEBT handling system) does. Anything that throws a wrench in that causes things like the Global FINANCIAL Crisis (GFC). Remember that?

    Fuel for the Next Mortgage Bust?
    Aug 14, 2019

    Cash-out refi hype is back full-blast. And for the first time since early 2006, people are doing it in large numbers.

    https://wolfstreet.com/2019/08/14/fuel-for-the-next-mortgage-bust/

    The Most Splendid Housing Bubbles in America
    Jul 30, 2019

    Many VERY blue cities, some red cities, and the bubbles are VERY large, exceeding pre-GFC levels:

    https://wolfstreet.com/2019/07/30/housing-bubble-housing-bust-july-update-year-over-year-drops-spread-to-seattle/

    https://wolfstreet.com/2019/08/01/housing-bubbles-chicago-dallas-atlanta-minneapolis-charlotte-still-crushed-detroit-cleveland/

    Wall Street’s Next Doomsday Derivatives Machine? Collateralized LOAN Obligations (CLOs) – he accidentally found a link to a Fed document he’s amazed they allowed general access to, perhaps by accident – Collateralized DEBT Obligations (CDOs) were a leading cause of the GFC.

    Liked by 1 person

  25. bkrg2 says:

    The MSM continues beating the drum of “complete economic collapse of the economy today”

    I had fox business news on the radio for 2 minutes, then had to turn it off.
    They had some idiot reporter at a Walmart interviewing shoppers. 3 people in a row said they are out shopping and have confidence in the economy, not worried about tariffs, and they have more money to spend.
    Then 4th guy says he just got laid-off.
    Reporter says “well there you have it, another sign of impending resession ON TOP OF ALL THE OTHER SIGNS!”

    I don’t normally listen/watch Fox Business, so I don’t know if they have always been Fake News. or is this just a recent piling on?

    When I got home, I made another IRA contribution while prices are lower…

    Liked by 1 person

    • SwampRatTerrier says:

      That 4th guy very likely was an MSM employee faking it.

      But the traitorous, lying MSM has been havING to lay off their crooks more and more.

      MORE WINNING!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

      Liked by 1 person

  26. fabrabbit says:

    Phony, phony, phony news. This was planned for sleepy August..”this is a test, this is only a test…”

    Like

  27. Graham Pink says:

    The Stock Market takes a dive, bargains present themselves to savy investors that capitalize on the opportunity to bargain hunt.
    Market rallies benefiting those investors.
    That’s a great little Scam.

    Like

  28. GB Bari says:

    We are seeing America’s real traitors – in the media. The Fake News MSM is more harmful to the USA than any of our moronic and corrupt politicians. With a real media, those corrupt politicians would be “outed” in short order, maybe a few days or weeks for the ones hiding behind layers of corruption.

    We have a serious dearth of determined, intelligent, savvy investigative journalists. It’s why TCTH stand out like a beacon to most of us who have made this website our go-to source before anywhere else.

    Liked by 1 person

    • sturmudgeon says:

      “It’s why TCTH stand out like a beacon to most of us who have made this website our go-to source before anywhere else.”
      YOU’VE GOT THAT RIGHT!

      Liked by 1 person

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