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

coffin

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.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.


Tagged In

china moneygame-us