Meredith Whitney, CEO of Meredith Whitney Advisory Group, discusses the state of the US economy and the consumer.
Last year, she did not expect a recession because of the strong consumer. Today, she describes the economy as “bifurcated” because higher-earning households are driving consumer spending.
Whitney also explores the housing market and predicts a supply glut that will lead to a decline in home prices, making it more affordable for younger generations. She delves into the demographic changes and challenges posed by an aging population, particularly in terms of long-term care and housing.
Whitney also addresses the fiscal position of states and the nation, emphasizing the need for a balanced budget and the potential risks of relying on foreign buyers for debt.
Links:
https://meredithwhitneyllc.com/
Timestamps:
0:00 Introduction
01:05 Macro view, bifurcated consumer
04:19 Sentiment
05:58 Housing market and homeownership
09:21 Timeline for home prices
10:38 Demographic changes and solutions
12:31 Demographic trends and aging Americans
20:31 National debt and foreign buyers
22:46 Possibility of a balanced budget
23:44 Fear and impact of research calls
32:11 Meredith Whitney Advisory Group
