It’s amazing what a little change in latitude does for the attitude. I hope you’re thinking about ways to spend your money foolishly. It sort of helps free the purse strings, if you will. Because you only live once, but based on the current economy, inflation, etc., you need to be able to pick through the fog. Here’s what I see from the pilot’s wheel:

The economy is mixed, with some good and some bad. My RAGE Gauge is still at 100, reflecting the sentiments of investors who appear worried.

Take a look at the University of Michigan’s Consumer Sentiment survey. It hit its lowest rating ever last month at 47.6. There’s still a big divide between Republicans, who perceive things better, and Democrats and Moderates, who are not as optimistic.

The Atlanta Fed’s GDP Now estimate of Q1 GDP has been dropping, also signaling a tougher time ahead than was previously expected.

And in the face of higher oil prices, Americans’ expectations of future inflation have shot back up to over six percent.

The Federal Reserve has been providing some support, though holding rates steady to combat still too-high inflation, the Fed has been adding to its balance sheet slowly.

The American consumer doesn’t appear to have been phased yet, with retail sales still strong, rising 0.629% last month.

Action Line: It’s all relative depending on who you talk to. It’s gone to extremes. Take the trips. Stay disciplined and control what you can. Make a plan for your retirement and your portfolio, and when you need help, email me at ejsmith@yoursurvivalguy.com.

Originally posted on Your Survival Guy.