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Real Vision: Finance & Investing

Adventures in Finance 19 - Over Stocked & Under Sold: A Tale of the US Shopper and the Global Economy

Real Vision: Finance & Investing

Real Vision

Business, Business News, News, Investing

4.21K Ratings

🗓️ 9 June 2017

⏱️ 60 minutes

🧾️ Download transcript

Summary

If you want to predict the path of the global economy, you best have a pulse on the US consumer. At 70% of the US economy, consumer spending is in the economic driver seat. We speak to Stephanie Pomboy, economist and founder of MacroMavens, someone that has consistently got it right in predicting US consumer trends and has the inside track on where the US consumer is headed next. In ‘Things I Got Wrong’, we speak with Jerry Haworth, CEO of 36 South Capital Advisors, about what he got wrong shorting the Nasdaq in 1998. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

Picture yourself on a beach, retired early and enjoying financial freedom.

0:06.7

If this is your dream, then now's the time to level up your investing game, and Real Vision can

0:12.1

help you. We arm you with the knowledge, the tools, and the network to succeed on your financial journey on your own terms.

0:20.0

Take control of your future and visit Realvision.com

0:24.4

forward slash free. That's Realvision.com

0:27.7

forward slash free. All right there, James. What's five seconds?

0:34.0

All right, stop the clock right there, James.

0:41.0

What's five seconds? Well, five seconds for me is about the time it takes to check

0:47.3

my emails in the morning or tie my shoes. But what is five seconds to the US consumer?

0:54.1

In five seconds a US consumer has spent $60,000 online and another $500,000 offline.

1:01.1

Now that's equivalent to 150,000 cups of coffee in let's say a thousand

1:05.8

iPhones or even 5,600 pairs of sneakers all in five seconds. So why is this important you ask? Well think about what that means in an hour, a day or even a year.

1:19.8

The US consumer is the US economy.

1:23.0

Well, 70% of it that is.

1:25.0

Now if the US consumer stops spending,

1:28.0

the US economy stops working.

1:30.0

And if the US economy stops and breaks, the global economy goes with it.

1:35.0

So let's get back to the shoppers.

1:38.0

Because if you know how to understand and really predict what they are going to do next, you can get a leg up on where the global economy is headed.

1:47.0

This week, we get to hear from a woman who is one of the world's top macro thinkers

1:52.0

and whose warnings about the deteriorating U.S.

1:53.9

consumer retail and auto sectors a year ago are all coming to fruition.

...

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