Retail spending on non-essential goods in the U.S. has slumped by 4% in early 2025, a stark reminder of the 2008 financial crisis, according to economist Craig Shapiro.
What Happened: The macro strategist at Bear Traps Report, Shapiro, links this downturn to growing consumer panic over artificial intelligence-driven job losses, drawing parallels to the economic uncertainty that gripped the world over a decade ago during the Global Financial Crisis.
