Kasman: U.S. Has Suffered Shortfall in Consumption

The transcript discusses the surprising results of an election, highlighting Trump's success among white millennials and increased support from Hispanics and Asians compared to Romney. It then shifts to an analysis of American consumption, considering the potential for growth despite economic headwinds. The conversation touches on the impact of house prices and equity values, noting that while some have been left behind, the US economy remains strong compared to the rest of the world. The discussion concludes with an examination of consumer confidence and expectations, suggesting that while there has been a shortfall in consumption, the situation is not dire.

Which demographic did Trump surprisingly gain more support from compared to Mitt Romney?

• Hispanics and Asians

• African Americans

• White millennials

• College-educated whites

What is a key factor that could improve American consumption according to the discussion?

• Higher taxes

• Increased government spending

• Growth in labor income

• Decreased exports

What is one of the economic gains mentioned that could benefit American consumption?

• Rising unemployment rates

• Decreasing stock values

• Lowering interest rates

• Increasing house prices

How does the US compare to the rest of the world in terms of economic strength?

• Uncertain

• About the same

• Weaker

• Stronger

What was the expected consumer behavior after the oil price declines?

• Unpredictable consumption

• Stable consumption

• Increased consumption

• Decreased consumption