If US consumers could speak as one, they would paraphrase Mark Twain and announce "the reports of my death are greatly exaggerated."
Not a day goes by where we don’t hear a talking head say something like, "the consumer is not spending" or "the consumer is weak." A weekend headline from the Wall Street Journal was more specific. It said, "Spenders Become Savers, Hampering Growth." The WSJ based its theory on some interesting anecdotes, but the authors missed some very basic facts.
