Blame it on Rio (and the World Cup)

From the FT:

“We believe that this contraction is largely a temporary effect caused by the reduction of business days during the World Cup,” Itaú-Unibanco said in a research report.

I was under the assumption that building new sports stadiums boost an economy.

If I Were A Central Banker, This Would Be My Number One Graph

Bottom?

I am still bullish on consumer spending.  Just too many cool gizmos out there, extended adolescence of millennials, and retirement of baby boomers.  Money is a state of mind.  As long as the right mindset exists - desire, motivation and commitment - there will be lots of money to spend.