Heather Long

And now, what do you do? What do you do if you think there's going to be a recession or you might lose your job, right? People are pretty rational about this. And of course, they stop booking vacations. They stop going out to eat as much. You know, they start cutting back.

And now, what do you do? What do you do if you think there's going to be a recession or you might lose your job, right? People are pretty rational about this. And of course, they stop booking vacations. They stop going out to eat as much. You know, they start cutting back.

And now, what do you do? What do you do if you think there's going to be a recession or you might lose your job, right? People are pretty rational about this. And of course, they stop booking vacations. They stop going out to eat as much. You know, they start cutting back.

You can see it in the data where at places like an Applebee's or an Olive Garden, you know, people are not ordering appetizers and desserts anymore. You know, they're really pulling back or they're simply not going at all. And these earnings calls for these types of chain restaurants are talking about people who earn $75,000 or less just aren't coming anymore.

You can see it in the data where at places like an Applebee's or an Olive Garden, you know, people are not ordering appetizers and desserts anymore. You know, they're really pulling back or they're simply not going at all. And these earnings calls for these types of chain restaurants are talking about people who earn $75,000 or less just aren't coming anymore.

You can see it in the data where at places like an Applebee's or an Olive Garden, you know, people are not ordering appetizers and desserts anymore. You know, they're really pulling back or they're simply not going at all. And these earnings calls for these types of chain restaurants are talking about people who earn $75,000 or less just aren't coming anymore.

And so I think people are a little bit tapped out. The savings is run down, you know, now they're fearful and now they were already starting to turn a little bit and belt tighten and now it's like extreme.

And so I think people are a little bit tapped out. The savings is run down, you know, now they're fearful and now they were already starting to turn a little bit and belt tighten and now it's like extreme.

And so I think people are a little bit tapped out. The savings is run down, you know, now they're fearful and now they were already starting to turn a little bit and belt tighten and now it's like extreme.

It does if the fear turns into action. And we're at the early edges of that. And so we just saw in March this wave of all the airline companies come out and say bookings are really weak so far this year. They can see that people are not eager to book vacations like they were in the past few years.

It does if the fear turns into action. And we're at the early edges of that. And so we just saw in March this wave of all the airline companies come out and say bookings are really weak so far this year. They can see that people are not eager to book vacations like they were in the past few years.

It does if the fear turns into action. And we're at the early edges of that. And so we just saw in March this wave of all the airline companies come out and say bookings are really weak so far this year. They can see that people are not eager to book vacations like they were in the past few years.

And so I think, you know, is that that probably there's an easy potential for that to continue to build. And the question is just, are we going to slow down enough to be in a recession?

And so I think, you know, is that that probably there's an easy potential for that to continue to build. And the question is just, are we going to slow down enough to be in a recession?

And so I think, you know, is that that probably there's an easy potential for that to continue to build. And the question is just, are we going to slow down enough to be in a recession?

I mean, the answer is no. Obviously, a number of other countries around the world are much more economies dependent on producing things and exporting them. That was certainly China's model and to a certain extent, the German model, so much less reliant on consumption. So right now, the U.S. is 70%.

I mean, the answer is no. Obviously, a number of other countries around the world are much more economies dependent on producing things and exporting them. That was certainly China's model and to a certain extent, the German model, so much less reliant on consumption. So right now, the U.S. is 70%.

I mean, the answer is no. Obviously, a number of other countries around the world are much more economies dependent on producing things and exporting them. That was certainly China's model and to a certain extent, the German model, so much less reliant on consumption. So right now, the U.S. is 70%.

of our economy is consumption-led, is people going out and eating out and purchasing those soccer balls and purchasing trips to Disney World. And I think the Trump administration has been making this argument. The Treasury Secretary Scott Besson has been saying, you know, look.

of our economy is consumption-led, is people going out and eating out and purchasing those soccer balls and purchasing trips to Disney World. And I think the Trump administration has been making this argument. The Treasury Secretary Scott Besson has been saying, you know, look.