Shop ‘til you drop

You’ve been told the American consumer is in trouble. You’ve been lied to.

Nothing can stop the American consumer. Yanks continue to spend more on televisions, clothes, food, holidays, and anything else they’re asked to open their wallets for. In the past year, real personal consumption expenditures rose 3.3%. Of that extra consumption, durable goods led the way. It rose 8.5% in the past year. That’s much faster than the 2.3% …