The efforts of the Wall Street pundits and financial class to talk the American consumer into creating a recession is failing. The Consumer Confidence Index remains at historic highs as U.S. workers/consumers are confident in their economic position. Yes, Main Street USA is optimistic about current and future expectations.

The Consumer Assessment Index, a measure of the percentage of consumers claiming business conditions are “good”, increased from 39.9 percent to 42.0; and the Present Situation Index is now at its highest level in nearly 19 years (Nov. 2000, 179.7).

These are all key indicators because the U.S. consumer is the engine of our economy. The U.S. consumer generates over two-thirds of our GDP activity through purchases. One of the strengths of the U.S. economy is our internal self-sufficiency; approximately 80 percent of all consumer goods created in the U.S. are purchased in the U.S. by U.S. consumers [we are not reliant on exports to sustain growth].

A strong jobs market means higher wages and benefits; those higher wages lead to more purchasing…. the purchasing demand leads to more manufacturing, competition and innovative product creation… which leads to more job openings, which creates upward pressure on wages.

The U.S. economic growth is a strongly self-sustaining process so long as the consumer is optimistic about the future.

This dynamic is exactly why corporate media pundits, pushing the preferred message of Wall Street, are attempting to convince the U.S. consumer that a recession is coming.

Those who oppose a strong Main Street are attempting to create a self-fulfilling prophecy.

U.S. consumer confidence is at its highest level in 19 years https://t.co/8CYllCLXhN pic.twitter.com/KKnwZ0ADTG — Bloomberg Economics (@economics) August 27, 2019