Spending, Statistics, and Why Midterms Matter

This week, Doug and Greg discuss how consumers and big business are responding to sky-high inflation, which income bracket is struggling the hardest and which brands are selling out faster, the bright side to a recession in vibes, why midterms matter, and why despite it all, the market is up.  Key Takeaways [00:16] - What inflation means for consumer spending and where prices have (surprisingly) gone down.  [05:29] - Why despite the constant bad news, the market is looking up. [15:12] - A guessing game for Greg.  [19:54] - Why midterm years matter.  Quotes [10:00] - “Things are bad, but the market ebbs and flows and generally overcorrects on the downside and overcorrects on the upside, and people that stick with a game plan end up working out.” ~ Doug Stokes [10:16] - “One of our clients told me one time that things are never as good or as bad as they seem. And you’re right, things have seemed very bad lately.” ~ Greg Stokes [13:39] - “I’m optimistic on the future and I think that if you extend your time or horizon long enough and if you look at prior data after the declines that we’ve seen recently, usually it’s a setup for a positive outlook going forward.” ~ Doug Stokes Links  Cheaper Beer, Cigarettes Gain Favor as Inflation Pinches Shoppers The Upper Middle Class is Getting Squeezed Busch Light Keystone Light  Walmart  WCI Shanghai To Los Angeles Shipping Index  Understanding America’s History and Modern Markets AT&T Quarterly Earnings Report  BlackRock July 2022 Highlights Consumer Confidence Falls Again in June FiveThirtyEight New Orleans Saints New Orleans Pelicans  Connect with our hosts Doug Stokes Greg Stokes Stokes Family Office Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts lagniappe.stokesfamilyoffice.com Disclosure The information in this podcast is educational and general in nature and does not take into consideration the listener’s personal circumstances. Therefore, it is not intended to be a substitute for specific, individualized financial, legal, or tax advice. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a final decision.