Axios writes that "American consumer confidence — still bizarrely low given how healthy the economy is — could be set for a substantial rebound in 2024 … The U.S. boasts the strongest economy of any rich nation. The much-predicted 2023 recession failed to appear, employment has remained robust, real wages have been rising, and the outlook for 2024 is similarly healthy.
"Crime is also down substantially, with homicides falling at a near-record rate in 2023 … Americans are already showing signs of confidence and prosperity in their spending. They happily shelled out more money than ever on holiday gifts, for instance."
Axios concludes: "The bottom line: There's no good reason for low consumer confidence to continue indefinitely. As Herb Stein's law says: 'If something cannot go on forever, it will stop'."
- KC's View:
As I wrote yesterday about a similar economic story, isn't it pretty to think so.
There are a lot of wild cards that can hurt consumer confidence. Two wars. A presidential election. A polarized citizenry. And probably a number of things that we're not even thinking about.
Still, we can dream.