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FOXNEWS The Journal Editorial Report June 4, 2024 20:16:00

We ve known each other for decades, we used to talk about the idea when the market went down, people expected the fed to bail everybody out. so you could just hold equities through the downturns and trust that greenspan would save you. i think consumers are acting as if they think there s something which i m calling a covid blip, the belief that if it gets problematic next year in the economy, the governor s just government s just going to mail them checks. i think that people clearly, you know, mt. past when hay saw a couple negative quarters like we saw would start doing bumper stock bakery, they would roll back their consumption, not make purchases of new cars and things like that. but they re partying right now, again, like it s 1981. and so my view is with all that credit that they ve built up that we re going to see the payment for that next year which is why all the wall street folks think we re going to have a version. paul: all right. kevin hassett, a sobering report. thanks ....

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