The Art of Slowing Down

144: Tapped Out: Why the US Consumer Is Closer to the Edge Than You Think

I had the opportunity to meet with a subscriber the other day in Saint Tropez. It has been exciting to see that real people globally read what I have to say, and it was great to spend some time with this individual and have a great conversation. As I have consistently mentioned, I am always happy to meet with people and I would like to explore hosting more small format drinks or dinner events. With the first (albeit spontaneous) “a-pierre-ance” being a success, I’m looking forward to many more.

As I have mentioned I take the end of July through mid-September off. Some people applaud this, others like VC investor Harry Stebbings strongly disagree with it. I personally don’t care about what people think, however when I do feel like writing about a topic I find interesting, I will put together a post.

I recently came across a note from Economist Peter Schiff, who has warned that “US President Donald Trump’s decision to impose 50% tariffs on Indian imports could severely damage the US economy.” He argues that the move risks triggering a crash in the US dollar, which would weaken American consumers’ purchasing power and shift global economic momentum toward emerging markets like the BRICS nations. Schiff believes this tariff policy exposes the fragility of the US economy, which has long relied on cheap imports to maintain living standards. Regardless of your opinion on Peter Schiff, he does bring up a point that I have been thinking about for a few months now, the US consumer seems to be tapped out and any unexpected expense or “shock” to the US economy could kick things over the edge for many people / families.

There are a few places I like to start when doing research on this topic.