Wall Street is shaky. My understanding is the numbers go up and down dependent on the economy. The economy depends on consumer spending. Correct me if I am wrong.
So, logically, let’s look at what was on the news. We have learned that it will be much harder (even for us with good credit) to buy a house and lenders may now require us to not only put larger chunks of money down but also to have up to six months of house payments in the bank — “just-in-case funds.”
Wall Street, aka, big business and stock holders, wonder why consumer spending has dropped? Imports from China that are unsafe, low paying jobs and union busting, prioritizing between necessities and a few little luxuries like new clothes, eating out and recreation vs. freedom from landlord rent raises every year that are more than any employment you have earned but failed to get. Gee, it’s a mystery, huh?