The Economy Predicts the Winner of the 2024 Presidential Election

The following article, The Economy Predicts the Winner of the 2024 Presidential Election, was first published on The Black Sphere. The suicide rate has hit crazy numbers under Joe Biden. Americans have lost hope, and for good reason. But some Americans have a crazy strategy to deal with lost hope. Spend your money no matter what! According to an email I received, the Fed likely won’t cut rates this year. But still people are spending. The idea that the Federal Reserve might pare back rates this year is becoming increasingly threadbare, a testament more to wishful thinking than to any discernible reality. The Bureau of Economic Analysis said this week that nominal personal income rose 0.3 percent in February from the prior month. Spending surged a vigorous 0.8 percent month-on-month. Even after adjusting for inflation, real spending rose 0.3 percent, laying to rest any lingering apprehensions regarding a potential retail malaise seeping into the broader contours of consumer expenditure. On the ledger of expenditures, goods found a prop in the revitalized auto sales sector, while other categories exhibited enough vitality to support the idea that the rotation out of goods spending has likely come to an end. I’m reminded of...