OPINION: Consumer sentiment wanes as recession looms

“The only numbers you need to know today are 95.7 versus 97.2.”

Scott Shellady, aka the Cow Guy, says that Tuesday’s Conference Board Consumer Confidence Index® was a big miss: 95.7 versus the expected 97.2. It marked the third straight month of decline, as earnings reports for McDonald’s and Walmart show buying habits are changing.

“As the administration huddles up to try and re-define how bad you’re feeling as a consumer,” Scott Shellady said, “you continue to get fleeced across the board. Name me one consumer staple that’s cheaper now than it was eighteen months ago.” Bill Baruch, president of Blue Line Futures & Blue Line Capital joined Scott to talk about the numbers ahead of Thursday’s official release of the GDP.

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