Consumer sentiment falls as virus spike darkens economic hopes
“U.S. consumer sentiment unexpectedly declined in early November as an increase in Covid-19 infections and the election prompted Americans to reassess their outlooks for the economy and finances.… ‘Republicans now voice the least favorable economic expectations since Trump took office, and Democrats have voiced more positive expectations,’ Richard Curtin, director of the survey, said in the report.”
USAGOLD note: The drop in consumer sentiment does not square well with Wall Street’s belief, as emphasized consistently in the mainstream media, that the economy is on the mend. As the Ramirez cartoon suggests life is complicated these days. If it’s not one thing, it’s another.
Cartoon courtesy of MichaelPRamirez.com
Repost from 11-16-2020