Meredith Whitney, CEO of Meredith Whitney Advisory Group, discusses the state of the US economy and the consumer. 

Last year, she did not expect a recession because of the strong consumer. Today, she describes the economy as “bifurcated” because higher-earning households are driving consumer spending. 

Whitney also explores the housing market and predicts a supply glut that will lead to a decline in home prices, making it more affordable for younger generations. She delves into the demographic changes and challenges posed by an aging population, particularly in terms of long-term care and housing. 

Whitney also addresses the fiscal position of states and the nation, emphasizing the need for a balanced budget and the potential risks of relying on foreign buyers for debt.

Links: 

https://meredithwhitneyllc.com/

Timestamps:

0:00 Introduction 

01:05 Macro view, bifurcated consumer

04:19 Sentiment 

05:58 Housing market and homeownership

09:21 Timeline for home prices

10:38 Demographic changes and solutions

12:31 Demographic trends and aging Americans

20:31 National debt and foreign buyers

22:46 Possibility of a balanced budget

23:44 Fear and impact of research calls

32:11 Meredith Whitney Advisory Group