Americans Are Spending Like Crazy
Is a repeat of 2008 coming?
This past weekend CNN released an article called Americans are spending like crazy. Can the good times last?
The report detailed how people are spending more of their paychecks at retailers nationwide.
Walmart, Macy’s, Home Depot and more are expected to report good earnings this week.
The economy is BOOMING.
The last time sentiment has been this high was 2007.
Do you remember what happened next?
Financial Crisis.
If history teaches us anything, we know that things can go from boom to bust fast.
If you look beyond all the spending, you’ll see…
- Higher inflation is eating into people’s paychecks
- Wage growth has remained small
- Gas prices are rising
- Tariffs have boosted prices on everything from cars to soda
I don’t want to be sounding negative, but I want you to remain realistic and on guard about the financial situation in the world. I’m the guy that tells people spending ISN’T your problem — it’s your income that is the problem.
No matter what the economy does over the next year, I want YOU to rise above it.
People are spending money like crazy right now, but on what? Things that sit in their homes and depreciate? Meals that they enjoy once and are a soon-to-be-forgotten memory?
If you’re going to spend money this week, make it count.
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Be Great,
GC
Grant Cardone is a New York Times bestselling author, the #1 sales trainer in the world, and an internationally renowned speaker on leadership, real estate investing, entrepreneurship, social media, and finance. His 5 privately held companies have annual revenues exceeding $100 million. Forbes named Mr. Cardone #1 of the “25 Marketing Influencers to Watch in 2017”. Grant’s straight-shooting viewpoints on the economy, the middle class, and business have made him a valuable resource for media seeking commentary and insights on real topics that matter. He regularly appears on Fox News, Fox Business, and MSNBC, and writes for Forbes, Success Magazine, Business Insider, CNBC, and Entrepreneur. He urges his followers and clients to make success their duty, responsibility, and obligation. He currently resides in South Florida with his wife and two daughters.
