By Mathew Evins
November 7, 2012
Do you think that Barack Obama’s re-election will have a major effect on affluent consumers’ day-to-day spending? Long-term spending?
I do not think the re-election of Obama will have a direct effect on the affluent consumer’s day-to-day spending in the near term.
If it causes a major downturn in the stock market, this will have a slightly negative impact on the spending of the affluent, especially for holiday gifts.
As for the general public, they are not likely to change their spending because of his re-election. The larger influence on spending will be the actions taken, or not taken, to avoid the “fiscal cliff”, i.e. the increase in taxes and the major reductions in government spending due to take effect in January.
Click the link to read the entire article which includes quotes from Milton Pedraza, CEO of Luxury Institute: