According to Mastercard, this Christmas was the biggest in history:
Shares of U.S. department stores jumped on Tuesday as Mastercard Inc said shoppers spent over $800 billion during the season, more than ever before, boosted by growing consumer confidence, rising employment and early discounts.
Sarah Quinlan, head of market insights for Mastercard Advisors, disclosed the figure after the payments processor’s analytics arm published its SpendingPulse retail report.
Fake news reports from the mainstream media claim the vast majority of Americans disapprove of President Trump and his tax reform bill that was just signed into law.
Don’t believe any of it.
First, President Trump’s base of support is not just unwavering but it is expanding as people are seeing the number of promises he has kept in his first year in office. Second, the American people would NEVER be upset that they get to keep more of their own money. Are you upset that the federal government won’t be taking as much of your hard earned cash? Of course you’re not and neither is anyone else. Why do you think the American people spent so much money this Christmas? They are feeling positive about where the economy is going and about the strength of their own financial situation. When people feel confident and secure in their finances, they allow themselves splurge at Christmastime.
This is an economic indicator that signals good things are heading our way.