- (0:45) - Current Performance Of The Money Anxiety Index
- (2:50) - Why Is There A Gap Between Popular Consumer Confidence and The Money Anxiety Index?
- (6:00) - Can The Hype Push Us Into A Recession?
- (10:55) - Are Consumers Continuing Their Spending Habits?
- (15:30) - Episode Roundup: Podcast@Zacks.com
An elevated level of money anxiety on the part of the consumer, could accelerate an economic slowdown and provide an invitation, of sorts, to the next recession. That’s the latest word from behavioral economist, Dr. Dan Geller, who discovered the link between money anxiety and individual financial behavior. This through his research firm, Analyticom. I’ve spoken with him here before. He joins me again to take a Closer Look at this.
1. Dr., Currently your Money Anxiety Index, for both July and August, is flat correct?
2. So, it would seem then, that indicates that consumers still have financial confidence and still can be considered an important driver of our economy?
3. But you’re currently seeing agap between the August Money Anxiety Index and the popular consumer confidence indices, why do you think that is?
4. So what you’re warning about is the constant hype about a recession increasing the level of money anxiety, correct?
5. This constant hype, as you put it, right now anyway, is more a reaction to perceived financial danger though right?
6. So, back in July you wrote about an invitation to recession. How does that tie in here?
7. Yet, interestingly, your research currently shows that consumers haven’t changed their financial behavior in reaction to this perception? Does that surprise you?
Bottom line for now anyway, is the good news, as reflected in the latest Money Anxiety Index data, is consumer financial behavior is stable contrary to consumer confidence surveys showing a decline in financial confidence.You’ll find more information on Dr. Geller’s Money Anxiety Index at his research firm’s website, Analyticom.com. Taking a Closer Look, I’m Terry Ruffolo.
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