The Consumer Is Dead And The US Doesn't Make Things Anymore*


Photo: Chris Yarzab via Flickr

*False.Two points from the trade deficit data that came out at 8:30.

First, imports declined sequentially across all categories with the exception of consumer goods.

Second, as Bloomberg notes, US exports to China just hit an all-time record high. Same too with exports to Mexico.

So the three myths that we can put in the coffin are:

  • The consumer is dead.
  • The US doesn’t make anything.
  • The Chinese consumer doesn’t buy anything.

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