US stocks plunged on Monday.
QuoteConsumer spending unexpectedly fell in January, according to the Commerce Department. Shoppers pulled back far more than economists expected: Spending fell 0.2% for the month. Adjusted for inflation, spending sank 0.5%. Those are the biggest monthly declines since February 2021.
Everywhere I look the news is the same. Admission of problems dismissed in happy talk.
QuoteThe American economy is diverse and remains the envy of the world — particularly at a time when industrial powers like Germany are seriously struggling, and other economies are coping with significantly higher and much stickier inflation than America.
Eat your veggies, somebody used to go hungry in China.