I...The Fed needs to be careful with these interest rates. The consensus seems to have gone from rate cut in March to rate cut in May but that could be a real problem with the dollar so strong and American market looking like King Kong.
It's a huge problem (interest rates) especially if the economy continues to improve.
Another problem is what I saw on my last visit to the States...a lot of people one day talking about their hourly pay or monthly salary being higher than it ever has been in their employment career but they continue to complain and worry about their cost of living...
A few I mentioned or suggested that they should "downsize" and they looked at me like I was crazy. Further, some are trying to determine how to "upsize" their living...
accumulating more debt while blaming it on the "economy".
Another thing I saw that I didn't see 10 years ago...more high school students with part-time jobs during the school year or full-time jobs in the summer because they need to make money to buy the things their parents can not afford to buy for them.
My point, there's a disconnect about a growing economy that's encouraging people to "upsize" to the point that their cost of living continues to become more difficult and people are working more hours, and multiple jobs just to maintain that "lifestyle or
a feeling that the're OK.
One more stange thing I saw...high schools are getting bigger with more amenities. I visited my old high school that I attended for two years before studying abroad in France for two years of secondary school...
I didn't recognize my old high school, it had doubled in size, had state of a state-of-the-art fitness center, indoor track, a football stadium set up like a stadium at a university, and a state-of-the-art computer system to rival a top university...
The expenditures were off the map while the parents of those students are bitching about how bad the economy is when they have a 6 figure income but growing debt.
Simply, I'm lost about
how people feel when it comes to the economy when I see these crazy expenditures. In contrast, I see poor neighborhoods (they do exist) getting poorer.
In America (Canada too)...the more money they make...they have this stupid need to spend more of it (see chart below).
U.S. household debt increased by 4.8% from November 2022 to November 2023, with credit card debt as the highest increase at 16.6%.
In the meantime, the Republicans (I saw it with my own two eyes on Fox News) are freaking out still about Taylor Swift influencing the 2024 U.S. election. They believe a conspiracy theory she will help Biden to "steal" the election from
Trump.
Note: I'm talking about the MAGA Republicans.
That conspiracy theory had me go to other sources (e.g. CNN and The Hill) to see what they had to say about Taylor Swift.
That's
panic mode when someone fears the social influence of a celebrity they believe will or can influence the outcome of the 2024 U.S. Presidential Elections.
https://thehill.com/homenews/campai...lash-as-maga-world-zeroes-in-on-taylor-swift/
wrbtrader
