In the complex and extensive ecosystem of the US economy, the fundamental core of its sustainability and continued growth all depends on the consumer. That's you and me and how we spend and save our money. As investors we monitor consumer spending of both staples as the largest portion of household budgets and the more profitable discretionary spending such as vacations, hospitality, dining, jewelry, and luxury items. Discretionary budgets can fluctuate dramatically that are influenced by various factors that include changes in payroll, consumer sentiment, media, inflation, and politics. What is interesting is the widening spread of sentiment between business owners and consumers. In this Issue we discuss the wide gap of sentiment between business owners and consumers and what it means to you. Most importantly, how this disparity may influence the stock market and your investments.
