Posted By: Jacob Wolinsky
Dec 17, 2019, 9:16 pm EST
After Fox Business boasted this exciting headline yesterday, “Dow gains 10,000th point since Trump’s election,” nationally syndicated host and biblical investing authority Dan Celia is asking if Americans are really all that concerned about impeachment efforts in the wake of surging consumer confidence and a robust economy.
In fact, Fox went on: “The stock market has been unstoppable under the influence of President Trump.”
“Maybe this isn’t a question anyone is asking, but let me ask it,” Celia said. “Are Americans worried about impeachment? The most recent consumer confidence reading could actually lead Americans to spend more money—not less. Frankly, I don’t think most Americans have been spending any time worrying about impeachment. I think they’ve seen it for what it is. The American consumer, better than anyone else, has the ability to hang in and be strong and tough during long economic expansion. After the dip of recent months—it didn’t matter; even the dips over the past two years—it didn’t matter.
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Robust economy in focus over impeachment
“Many experts were concerned that the U.S. trade war would cause concerns with consumer confidence,” he added. “But here’s the deal—nobody has their ear to the street better than consumers. These are the people who are actually working for a living every day. They see their wages go up. They have seen opportunities for jobs they haven’t seen in 15 years. And they understand what this administration has done. The University of Michigan consumer sentiment surveys have gotten better and better. As a matter of fact, since 2017, in 30 of the past 35 months, the sentiment number was 95 or higher. We haven’t seen that kind of optimism since the ’90s and President Clinton.
“I’ve been saying for a long time that consumer confidence and consumer sentiment are absolutely amazing, and it is exactly what will continue to drive this economy for the rest of this year,” Celia concluded. “And it will take a fairly dramatic change in some of the robust economy numbers for that to start to turn negative.”