, Columnist
Carpe Clichés! This Time Really Was Different
Oft-repeated sayings can annoy, all the more so when they’re true. But stimulus cash has run out for bets on the US consumer.
An average spend of $1,500 each.
Photographer: Scott Eisen/TAS23/Getty
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Never bet against the consumer, they say. Those same people also contend that the four most dangerous words in finance are, “It’s different this time.” Armed with those clichés, which are all the more irritating for being true, we dive into the extremely difficult and painfully important debate over US consumption.