Scott Bessent told The National Desk's Ahtra El Nashar that he believes consumer sentiment is high, disputing what every major poll and survey tells us because he knows what's in the heart of hearts in consumers and believes they love Trump's economy.
"Why aren't we seeing this sentiment?" El Nashar asked. "Why aren't people feeling better?"
BESSENT: Well, when I was in the investment business, there are consumer surveys, but I used to look at what are the people really doing?
So at Treasury, we have loads of CEOs come through, whether they're in retail, credit card, the banks, and the consumer, while they may be sounding grim, is actually quite buoyant.
So we are seeing spending has been very solid across most categories.
EL NASHAR: So they might not feel good, but-
BESSENT: Well, look, in their heart of hearts, they feel good. I'm not sure what they're telling the survey people.
Wait, what? Consumers are buoyant? WTF?
They are pissed off and not fucking "buoyant." Not by a long shot.
It's ludicrous to claim that consumers spending money is an indicator to Bessent that they love the Trump economy. People have to provide for themselves and their families and that means buying goods and services, often on credit cards because their paychecks don't stretch far enough.
When Bessent said he knows, "in their heart of hearts, they feel good," it reminded me of when Dubya Bush said he could see inside Putin's soul after looking into his eyes.
How would this uber-elitist Hedge fund CEO know what's in the hearts of the working class?
Notice how quickly he changed the topic to taxes.
"You know, the other thing we saw, too, was 70% of Americans still think they're overtaxed, and I agree with them," he said.
What do tax rates have to do with consumer sentiment on the US economy?
It doesn't.
Trump already gave people like Bessent massive tax cuts that are destroying health care in the country. He has some nerve calling them "Working Class Tax Cuts." That's just Orwellian bullshit, meant to disguise how much he handed over to billionaires.
Let's see Bessent go into blue cities and ask consumers how they feel?
