Far from being a leading indicator of consumer spending, consumer confidence has consistently missed important changes in consumer spending trends.
More Quotes from Carl Steidtmann:
At the end of a long economic expansion, consumers tend to be overconfident relative to their spending raising false hopes about the ability of consumers to continue spending. At the beginning of a recovery, consumers remain in a funk even as they accelerate their pace of spending.Carl Steidtmann
The process is slow in happening. The level at which the consumer starts making changes is pretty inelastic, In other words, it takes a high threshold of pain before they start making changes.
Carl Steidtmann
The Japanese economy for the first time in 15 years is getting up off the mat. They've gotten their banking system back in shape. Europe will probably muddle along, but China's growth will still be quite strong.
Carl Steidtmann
In Europe, bankruptcy laws are designed to protect creditors. We're a nation founded by debtors, people who were trying to get away from debtors' prison.
Carl Steidtmann
I think we'll continue to see a lot of foreign investment in the United States, simply because this is the best place in the world to invest money.
Carl Steidtmann
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