🚨🇺🇸 GOVERNMENT SHUTDOWN KNOCKS CONSUMER CONFIDENCE TO 3-YEAR LOW
The University of Michigan’s Consumer Sentiment Index just dropped to 50.3, its lowest level since June 2022.
That puts public confidence in the economy just a hair above pandemic panic levels.
Researchers say Americans across all ages, incomes, and political stripes are worried about the shutdown’s fallout.
With food aid frozen, flights cut, college students skipping meals, and ambulance services nearing collapse, it’s no surprise people are feeling bleak.
Inflation expectations are rising, grocery bills are climbing, and millions are watching federal benefits evaporate while Congress recycles the same finger-pointing speeches on cable news.
Interestingly, the one group not freaking out? Households with big stock portfolios.
Their confidence jumped 11%, buoyed by a market that hasn’t totally tanked, yet.
TLDR: The only people who might actually be celebrating right now are the ones trying to short America.
Source: HuffPost, Reuters, Fortune
🇺🇸🇮🇹 SHUTDOWN STRIKES AGAIN: ITALIAN WORKERS AT U.S. MILITARY BASES STILL WAITING FOR PAY
Italian workers at U.S. military bases in Italy haven’t been paid since October.
About 2,000 staff members at Aviano and Vicenza bases are left hanging due to the U.S. government shutdown.
The twist? Workers at U.S. Navy bases in Italy did get paid, because the Navy plays by its own rules.
Italy’s FM is basically telling the U.S. to get it together. He wants them to use their own money to pay the workers.
The U.S. shutdown is already causing chaos, missed paychecks, frozen food aid, messed-up travel.
Meanwhile, the Italians are still wondering when their paycheck will show up.
Source: Reuters