IPFS News Link • Economy - Economics USA
Spending On Hookers, Drugs And Booze Tumbles
• https://www.zerohedge.com, by Tyler DurdenConveniently SouthBay Research has a "Vice Index" that that tracks spending on gambling, alcohol, drugs, and prostitution. And as of February, the vice index just tumbled, suggesting that after a brief burst in late 2017 and 2018, the consumer-driven economy is again in trouble.
Or, as SouthBay's Andrew Zatlin writes, the "Vice Index Points to Tax Cut Hangover: Slower Pace of Consumer Spending for 1Q"
Shown below is SouthBay's proprietary Vice Index (lagged by 6 months) which tumbled in February to -2%, its worst print since 2012.
Here is the same Vice Index shown unlagged: it shows that the impact of the Trump tax Cut was "Short but Sweet", and ominous warning for the broader economy.