Beau

The University of Michigan's Surveys of Consumers was released.

Trump's moves against Iran and the accompanying price surges shook the American consumer more than I think anybody expected.

To put that in context and give you a comparison, there really isn't one.

This is the lowest reading post-World War II.

Consumer sentiment is a loose leading indicator of consumer spending, which greatly impacts the GDP and overall economic health.

Given the fact that fourth quarter GDP of last year was revised down to a meager 0.5%, this isn't a good sign.

The survey's director said that the decline in sentiment was felt by pretty much everybody.

Quote,

Demographic groups across age, income, and political party all posted setbacks and sentiment, as did every component of the index, reflecting the widespread nature of this month's fall.

This isn't a case of people opposed to the war overreacting.

It's not a case of partisan wish-casting.

This was a result of the immediate effects of Trump's war.

But that's not the only problem in Trump's golden age.

She went on, quote,

Assessments of personal finances declined about 11%, with consumers expressing a substantial increase in concerns over high prices and weaker asset values.

Buying conditions for durables and vehicles worsened, again, on the basis of high prices.

Open-ended comments show that many consumers blame the Iran conflict for unfavorable changes in the economy.

Sentiment is down.

Expectations are down.

The surveys also look at expected inflation.