The collapse of US consumers:
Unemployment expectations in the US are now ABOVE 2020 levels and at their highest since 2008.
In 2024, a poll showed that a whopping 56% of Americans thought the US was in a recession.
Is the US set to enter a recession?
(a thread)
Below is a Harris poll conducted in May 2024, in the lead up to the election.
56% of Americans thought we were in a recession and 49% thought the S&P 500 was down YTD at the time.
In reality, GDP growth was "strong" and the S&P 500 was up 12% YTD at the time of the poll.
