Today we celebrate Thanksgiving in The US. I want to take this opportunity to thank all of you that read these post daily (or whenever you have time) and even react to them. In terms of the celebration, the tradition involves a family dinner where the menu has been basically the same for centuries. And perhaps on the chart below you have a simple explanation on why the elections turned out the way the did: the cost of a traditional Thanksgiving dinner has gone up 19% over the last 4 years, which combined with price increases on other non discretionary items, have squeezed the U.S. consumer, which have turned to credit card debt to cover the gap. The new administration is already working on measures to reduce government spending to contain price increases. This simple metric end up being more important than any macro indicator, because you don’t need to read it on the paper, you feel it in your pocket. And citizens vote with their pockets.
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