People have been predicting doom and gloom for the United States economy for so long now that it’s hard not to be desensitized to it.
To be sure, America has been trucking along as though inflation isn’t out of control, interest rates aren’t totally oppressive, and there isn’t war breaking out on multiple fronts around the world.
All this while peers like Canada and the Eurozone have shown plenty of signs of economic stress.
But is it possible that real cracks are finally starting to show in the mighty American machine?
It’s starting to look that way.
Let’s talk about what’s happening at McDonalds restaurants around the country right now.
Are American consumers finally starting to fold?
One thing I like to keep an eye on as a bellwether for the wider economy is stock market earnings — especially those of companies that cater to consumers.
And this week, fast food giant McDonald’s reported troubling earnings indeed.
Economists have long pointed to the strength of the American consumer as the main reason the country might escape recession and bring the economy in for that soft landing that Federal Reserve…