Most projections for a stock market decline hinge on a weakening US consumer.
Bearish investors cite $1 trillion in credit card debt, upcoming student loan payments, and a depletion of excess pandemic savings.
But the US consumer has plenty of capacity to spend, and that's great news for the stock market.
In reality, US consumers have plenty of firepower left to spend money, grow the economy, and drive the stock market higher.
And given that consumption makes up about 70% of GDP, this strength should continue to flow through to the economy and stock market.
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Service, Bloomberg Mortgage
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