Just tell me what the consumer is up to, skip the rest

If you’ve spent the last ten years fussing over all of the economic reports related to heavy industry and commodity costs and other dirty data points, you probably feel like you’ve been running in circles, caught up in a wild goose chase of oscillations and obfuscations that’s brought you no closer to understanding the twists and turns of the market than had you done absolutely nothing at all. Think of all the almost-recession readings in things like ISM and C&I spending and the like that we’ve whistled right past in the post-crisis period.

Had you, on the other hand, simply focused on the health and wealth of the consumer, you’d have gotten things mostly right.

The US consumer is the preeminent economic engine of the world right now, and following things like employment, wages, 401(k) balances, retail spending, small business confidence and home-buying / remodeling trends has been a great shortcut for investors and spectators alike.

BlackRock’s chart of the week is my Chart o’ the Day:

Josh here – see all that red? That’s you and me making spending decisions and getting on with our lives. Look at how dominant this part of the economy has become, even since the start of this decade. I bet if you pulled the chart back to the 70’s and 80’s it would be even more extraordinary to see how stark the difference is.

It’s not that I’m saying “nothing else matters”…I’m just saying that we all have a choice about what we can focus on to better understand the world in which we live, and this is my choice at the current moment.

Source:

Lower growth, higher inflation
BlackRock – September 16th, 2019

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here: https://www.ritholtzwealth.com/advertising-disclaimers

Please see disclosures here.

What's been said:

Discussions found on the web
  1. mơ rắn đánh đề con gì commented on Sep 17

    … [Trackback]

    […] Read More on to that Topic: thereformedbroker.com/2019/09/17/just-tell-me-what-the-consumer-is-up-to-skip-the-rest/ […]

  2. bitcoin evolution review commented on Sep 29

    … [Trackback]

    […] Find More on that Topic: thereformedbroker.com/2019/09/17/just-tell-me-what-the-consumer-is-up-to-skip-the-rest/ […]

  3. w88club commented on Oct 05

    … [Trackback]

    […] Information on that Topic: thereformedbroker.com/2019/09/17/just-tell-me-what-the-consumer-is-up-to-skip-the-rest/ […]

  4. Equation of Quality commented on Nov 24

    … [Trackback]

    […] Information on that Topic: thereformedbroker.com/2019/09/17/just-tell-me-what-the-consumer-is-up-to-skip-the-rest/ […]

  5. rbc bank account commented on Nov 27

    … [Trackback]

    […] Find More Information here on that Topic: thereformedbroker.com/2019/09/17/just-tell-me-what-the-consumer-is-up-to-skip-the-rest/ […]

  6. scotiabank canada login commented on Dec 01

    … [Trackback]

    […] Find More Info here to that Topic: thereformedbroker.com/2019/09/17/just-tell-me-what-the-consumer-is-up-to-skip-the-rest/ […]

  7. cheap wigs commented on Dec 17

    … [Trackback]

    […] Here you will find 19667 additional Information to that Topic: thereformedbroker.com/2019/09/17/just-tell-me-what-the-consumer-is-up-to-skip-the-rest/ […]

  8. Full Article commented on Jan 05

    … [Trackback]

    […] Here you will find 70391 more Information on that Topic: thereformedbroker.com/2019/09/17/just-tell-me-what-the-consumer-is-up-to-skip-the-rest/ […]

  9. buy clomid online usa commented on Jan 18

    … [Trackback]

    […] Read More to that Topic: thereformedbroker.com/2019/09/17/just-tell-me-what-the-consumer-is-up-to-skip-the-rest/ […]

  10. JL Audio Musical Equipment manuals commented on Jan 18

    … [Trackback]

    […] Read More Info here to that Topic: thereformedbroker.com/2019/09/17/just-tell-me-what-the-consumer-is-up-to-skip-the-rest/ […]

  11. Pulse Power commented on Jan 28

    … [Trackback]

    […] Find More Info here to that Topic: thereformedbroker.com/2019/09/17/just-tell-me-what-the-consumer-is-up-to-skip-the-rest/ […]