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Adil Sayeed

@adilasayeed.bsky.social
37 followers 17 following 317 posts

Public policy consultant by day. Index of Consumer Sentiment (ICS) nerd by night who believes "it's the economic vibes, stupid" that explains most presidential elections. economystupid.substack.com

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Adil Sayeed @adilasayeed.bsky.social · 14/09/2026
Check out The Velcro Staircase. Stevie B has his finger on the pulse of popular culture. I'm showing my age by calling him the Bo Jackson of culture. Stevie B knows music. Stevie B knows films. Stevie B knows podcasts. canadiansteve.substack.com?r=gjsh5&utm_...
canadiansteve.substack.com
The Velcro Staircase | Stevie B | Substack
Your New Music Review. Click to read The Velcro Staircase, by Stevie B, a Substack publication with hundreds of subscribers.
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Adil Sayeed @adilasayeed.bsky.social · 11/09/2026
At first, I thought President Trump might be crazy like a fox. But, even in Fox News' Republican-heavy online poll, 64% vote against President Trump’s $5,000 dividend plan. economystupid.substack.com/p/even-foxco...
economystupid.substack.com
Even Fox.com voters say NO to Trump’s $5,000
64% against Trump’s $5,000 dividend in online poll. Next Index of Consumer Sentiment (ICS) reading on Sept. 25 will measure impact on vibes of Trump’s $5,000 promise.
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Adil Sayeed @adilasayeed.bsky.social · 30/08/2026
Six months after Trump attacked Iran, $4 gas is eroding even Republicans’ faith in Trump’s economy. Republican economic vibes (consumer sentiment) down -16% since February. economystupid.substack.com/p/6-months-o...
economystupid.substack.com
6 months of Trump’s war: Economic vibes -10%
Republicans not OK with $4 gas. Republican Index of Consumer Sentiment (ICS) down -16% since Trump attacked Iran. Independent vibes down -6%. Democrats down -4%.
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Adil Sayeed @adilasayeed.bsky.social · 14/08/2026
Michigan Surveys Director Joanne Hsu: "Decreases in sentiment were seen across the political spectrum, with Republicans exhibiting the strongest ... decline in August. Sentiment among Republicans is now 19% below readings just prior to the Iran conflict" economystupid.substack.com/p/republican...
economystupid.substack.com
Republican economic vibes crash
Republicans’ Index of Consumer Sentiment (ICS) down -11% since July and down -19% since Trump attacked Iran in February and sent gasoline prices higher.
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Adil Sayeed @adilasayeed.bsky.social · 26/07/2026
Can we trust Index of Consumer Sentiment? Only if “handled with care”. Unfortunately, continuing controversy lends credibility to Trump economist Hassett’s charge that “ICS …worthless”, even though Hassett identifies wrong reason for ICS problems. economystupid.substack.com/p/can-we-tru...
economystupid.substack.com
Can we trust Index of Consumer Sentiment?
Only if “handled with care”. Continuing controversy lends credibility to Trump economist Hassett’s charge that “ICS … worthless”.
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Adil Sayeed @adilasayeed.bsky.social · 27/06/2026
Trump: “I did not want to be … Hoover”. No Hoover depression in sight, but Trump following Biden’s vibecession path to loss for incumbent party in 2028. Difficult to imagine Trump and his team changing course. economystupid.substack.com/p/trump-im-t...
economystupid.substack.com
Trump: “I’m tired of winning and winning”
President averts, for now, maybe, “economic catastrophe … I did not want to be … Hoover”. No Hoover depression in sight, but Trump following Biden’s vibecession path.
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Adil Sayeed @adilasayeed.bsky.social · 12/06/2026
Claudia Sahm warns that Index of Consumer Sentiment (ICS) must be "handled with care", but is still relevant despite Trump economist Kevin Hassett dissing ICS as "worthless". ICS up this month, but US still in vibecession with ICS down -24% since Jan. 2025. economystupid.substack.com/p/vibes-stil...
economystupid.substack.com
Vibes still low, but not as low as Index shows
Trump economist Hassett is right for wrong reason saying Index of Consumer Sentiment (ICS) is wrong. Claudia Sahm diagnoses what’s gone wrong with ICS.
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Adil Sayeed @adilasayeed.bsky.social · 22/05/2026
Bezos says "more mature, disciplined" Trump deserves "credit where credit is due". I credit President with plunging US into economic slough of despond -- vibecession. economystupid.substack.com/p/trump-plun...
economystupid.substack.com
Trump plunges US into deeper vibecession
Even Republicans’ consumer sentiment slipping. When will vibes hit bottom?
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Adil Sayeed @adilasayeed.bsky.social · 08/05/2026
Phillips O’Brien's source says Trump wants Donald Jr. to inherit the presidency. 1st step: Bezos bankrolls primevideo Apprentice reboot starring Donald Jr. Junior Donald won’t be able to move into the White House carrying Trump Senior’s economic baggage. economystupid.substack.com/p/economy-to...
economystupid.substack.com
Economy to elect President Donald Trump Jr.?
Good news, bad news day for the Donald Jr.’s prospects. Jobs up, gas price down. But, economic vibes still sinking. Bad inflation news coming next week.
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Adil Sayeed @adilasayeed.bsky.social · 20/04/2026
Index of Consumer Sentiment (ICS) low, but NOT all-time low. Change in survey method in 2024 means June 2022 ICS = 50 still all-time low after April 2026 ICS reported as 47.6 adjusted on apples v. apples basis allowing for change in survey method. economystupid.substack.com/p/consumer-s...
economystupid.substack.com
Consumer sentiment NOT at all-time low
Read only if you are a vibes nerd and/or use sentiment data in a model.
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Adil Sayeed @adilasayeed.bsky.social · 10/04/2026
Epic fail: Trump’s war and the US economy. Economic vibes down -11% in April. Even Republicans losing heart. Dean Baker points out consumer spending already slowing pre-war. Will US slide from vibecession into recession? economystupid.substack.com/p/epic-fail-...
economystupid.substack.com
Epic fail: Trump’s war and the US economy
Bigliest jump in inflation in 5 years. Consumer vibes down another -11%.
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Adil Sayeed @adilasayeed.bsky.social · 27/03/2026
Trump is winning Iran war on all fronts but one – the gas pump. Gas prices up +33%. Consumer sentiment down -6%. Will vibecession turn into recession? Republican Senate candidate Tafoya’s prescription: “take one less trip to Starbucks”. economystupid.substack.com/p/us-gas-pri...
economystupid.substack.com
US gas prices +33%. Economic vibes -6%.
Solution? “take one less trip to Starbucks, and … gas goes a little further”
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Adil Sayeed @adilasayeed.bsky.social · 16/03/2026
BREAKING NEWS! Secretary Rubio announces offer by President Rufus T. Firefly to deploy Freedonia’s schooner fleet to clear Strait of Hormuz. Trump declines saying: “USA doesn’t need any help from Marxists.” 64.media.tumblr.com/tumblr_lus4e...
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Adil Sayeed @adilasayeed.bsky.social · 13/03/2026
Gas prices sending economic vibes down. Will Trump’s war on Iran push the US economy over the edge from vibecession to recession? economystupid.substack.com/p/gas-prices...
economystupid.substack.com
Gas prices sending economic vibes down
Gas prices up +22% in 2 weeks. Will 2026 be like 1973, 1979-80, 1990 for US economy?
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Adil Sayeed @adilasayeed.bsky.social · 25/02/2026
State of the US economy: Unusually calm. Not like Trump. He inherited best economy since Ike in 1953. Misery index a bit better 1 year into Trump’s 2nd term. Yet, US spent 2025 in vibecession with economic sentiment down -24% since Trump’s inauguration. economystupid.substack.com/p/state-of-t...
economystupid.substack.com
State of the US economy: Unusually calm
On the surface at least. Misery index hasn’t been this steady in 6 decades.
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Adil Sayeed @adilasayeed.bsky.social · 07/02/2026
Trump’s vibecession done? Has vibecovery begun? Vibes still down -23% since Jan. 2025 inauguration. 23% fall still fits my vibecession definition. Republican win in 2028 election with vibes as low now would be unpresidented = unprecedented in Trump lingo. economystupid.substack.com/p/trumps-vib...
economystupid.substack.com
Trump’s vibecession done? Has vibecovery begun?
Vibes +6% over last 2 months, but still down -23% since January 2025. Too soon to call end to vibecession that started as soon as President Trump took office.
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Adil Sayeed @adilasayeed.bsky.social · 23/01/2026
Trump has worst 1st year in history of vibes. Consumer sentiment down -26% over past year. Worse than -25% to start Nixon’s 2nd term. economystupid.substack.com/p/trump-has-...
economystupid.substack.com
Trump has worst 1st year in history of vibes
Consumer sentiment down -26% over past year. Worse than -25% to start Nixon’s 2nd term.
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Adil Sayeed @adilasayeed.bsky.social · 14/01/2026
Arresting Maduro = "sugar high" for Trump support, says Jonathan Lemire in The Atlantic. Past precedents show no lasting impact on vibes from US military victories over small countries. economystupid.substack.com/p/will-venez...
economystupid.substack.com
Will Venezuela victory end vibecession?
NO. Small vibes pop won’t be enough to turn around -27% fall in sentiment over 1 year. Past US military triumphs have not had much lasting effect on economic sentiment.
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Adil Sayeed @adilasayeed.bsky.social · 05/12/2025
Trump's winter of discontent: Vibecession lingers. December Index of Consumer Sentiment (ICS) remains down -27% since Trump took office in January. Trump is gaslighting himself insisting “now we have normal inflation”. economystupid.substack.com/p/trumps-win...
economystupid.substack.com
Trump's winter of discontent: Vibecession lingers
Index of Consumer Sentiment down -27% since January. Even Republican vibes wavering.
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Adil Sayeed @adilasayeed.bsky.social · 10/11/2025
Is Trump lying saying “we have no inflation”? Not guilty of perjury (even if he were under oath), but he's guilty of gaslighting himself. open.substack.com/pub/economys...
open.substack.com
Is Trump lying saying “we have no inflation”?
Not guilty of perjury. But, guilty of gaslighting his own popularity.
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Adil Sayeed @adilasayeed.bsky.social · 27/10/2025
Fed NOT flying blind setting interest rate without economic data during government shutdown. Fed like pilot flying Instrument Flight Rules in low visibility. Chicago Fed nowcast unemployment rate = 4.35% in October. Fed will cut interest rate this week. economystupid.substack.com/p/employment...
economystupid.substack.com
Employment Situation: Slightly softer in October
Chicago Fed nowcasts unemployment rate = 4.35%. Strengthens case for interest rate cut. Transmission of material in this news release is embargoed until 2:30 p.m. (ET) Monday, October 27, 2025.
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Adil Sayeed @adilasayeed.bsky.social · 25/10/2025
TRUMP INFLATION UP! vibes down. 3% inflation in September same annual rate as January when Trump posted BIDEN INFLATION UP! Government shutdown helps Trump by taking inflation out of the news with no more inflation reports until shutdown ends. open.substack.com/pub/economys...
open.substack.com
TRUMP INFLATION UP! vibes down
No sign of Trump keeping election promise to “end inflation”, so vibes still depressed.
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Adil Sayeed @adilasayeed.bsky.social · 15/10/2025
Today’s CPI report postponed until the 27th. Cleveland Fed, best source of inflation data until then, nowcasting annual inflation back up to 3%. TRUMP INFLATION UP! in keeping with Trump posting BIDEN INFLATION UP! after January CPI report. economystupid.substack.com/p/consumer-p...
economystupid.substack.com
Consumer Price Index Summary
With no BLS data, look to Cleveland Fed for inflation, Chicago Fed for unemployment. Transmission of material in this release is embargoed until 8:30 am (ET) Wednesday, October 15, 2025.
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Adil Sayeed @adilasayeed.bsky.social · 27/09/2025
Dr. EJ Antoni's tweets insulting Comey, Harris and Krugman qualify him as MAGA hero. But, Antoni's tweet making fun of Senator McCain on the day he died will disqualify him from Senate confirmation as Bureau of Labor Statistics Commissioner. economystupid.substack.com/p/trumps-bls...
economystupid.substack.com
Trump's BLS nominee EJ Antoni doomed
Ghost of Republican Party past will bury Antoni over post making fun of McCain dying
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Adil Sayeed @adilasayeed.bsky.social · 12/09/2025
20 years after 1st vibecession caused by Katrina in 2005, another vibecession is under way in 2025. Trump’s “We have no inflation” may turn out as wrong as GW Bush’s “Brownie, you’re doing a heckuva job.” open.substack.com/pub/economys...
open.substack.com
20 years since the 1st vibecession: Hurricane Katrina
Consumer vibes plunged in 2005 – like 2025. No recession in 2005. What about 2025?
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Adil Sayeed @adilasayeed.bsky.social · 13/08/2025
Incoming Labor Stats Commissioner Antoni’s skill is cherry-picking numbers to make Republicans look good and Democrats look bad. BLS press releases on inflation and jobs will be Trump propaganda under Dr. Antoni. economystupid.substack.com/p/new-bls-co...
economystupid.substack.com
New BLS Commish = Trump's Bing Crosby
BLS Commissioner Antoni will “Accentuate the positive. Eliminate the negative.” The Donald and I are old enough to remember that Bing recorded that hit in 1937.
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Adil Sayeed @adilasayeed.bsky.social · 07/07/2025
Dueling economic forecasts are an intramural cage match between Harvard Professor Summers v. Harvard PhD and Trump economist Miran. I expect a US recession based on a simple decision criterion — Summers is a more credible economist than Miran. economystupid.substack.com/p/will-reces...
economystupid.substack.com
Will recession tarnish USA’s 250th year?
Labor data says US economy still strong. Consumer vibes still low in recession zone.
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Adil Sayeed @adilasayeed.bsky.social · 17/06/2025
Will Mideast war tip US into recession? Oil and gasoline price spikes played part in 1973, 1980, 1990 recessions. Will 2025 be “déjà vu all over again”? economystupid.substack.com/p/will-midea...
economystupid.substack.com
Will Mideast war tip US into recession?
Gasoline price spike could be last straw that breaks economic camel’s back.
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Adil Sayeed @adilasayeed.bsky.social · 31/05/2025
Trump accused Biden of leaving a “stone cold dead” economy. (May 28) His report of US economy’s death was greatly exaggerated. Biden passed on best misery index to new president since 1953. I give Trump benefit of my doubt. He doesn’t know enough about the economy to be accused of a deliberate lie.
open.substack.com
Will TACO save the US economy?
Consumer vibes stop sliding thanks to TACO = Trump Always Chickens Out.
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Adil Sayeed @adilasayeed.bsky.social · 17/05/2025
Who has the better track record as an economist – Kyla Scanlon (BA, Western Kentucky) or Trump’s Chair of Council of Economic Advisers Stephen Miran (PhD, Harvard)? economystupid.substack.com/p/best-econo...
economystupid.substack.com
Best economics degree? Harvard or Western Kentucky?
Miran (PhD, Harvard): economy “marching on ahead”. Scanlan (BA, WKU): “downturn”.
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Adil Sayeed @adilasayeed.bsky.social · 03/05/2025
Trump's first 100 days: Calm before economic storm. US inflation and job market numbers good in April, but falling vibes signal trouble ahead. Economy teetering on edge of vibecession. Will it be just a vibecession or recession? open.substack.com/pub/economys...
open.substack.com
1st 100 days: Calm before economic storm
Topline economic numbers good in April, but falling economic vibes signal trouble
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Adil Sayeed @adilasayeed.bsky.social · 11/04/2025
Consumers in vibecession. Recession next? Index of Consumer Sentiment down-29% since January when Trump returned to White House. Bigliest consumer vibe dive on record over 3 months. economystupid.substack.com/p/consumers-...
economystupid.substack.com
Consumers in vibecession. Recession next?
Bigliest consumer vibe dive on record. Even Republicans losing faith in Trumponomics.
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Adil Sayeed @adilasayeed.bsky.social · 14/03/2025
Et tu, vibes? Ides of March for US economy. Too soon to call recession, but we are in vibecession territory at very least. open.substack.com/pub/economys...
open.substack.com
Et tu, vibes? Ides of March for US economy
Too soon to call recession, but at very least vibecession looms.
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Adil Sayeed @adilasayeed.bsky.social · 01/03/2025
RFK Jr.: "It's not unusual ... measles every year". It is unusual to say “go wild on health”. It is unusual to put a crank in charge. But, when I see RFK dissing measles risk, It's not unusual to see me cry. I hope no more die. open.substack.com/pub/economys...
open.substack.com
RFK Jr.: "It's not unusual ... measles every year"
Wrong, Mr. Health Secretary. After 2 months, 2025 US cases > half in all of 2024.
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Adil Sayeed @adilasayeed.bsky.social · 26/02/2025
Conference Board reports Expectations Index “below the threshold of 80 that usually signals a recession”. Signal has not been reliable in recent years. Too soon to tell if recession on way. But, Trump’s big mouth could stall US economy by sapping confidence economystupid.substack.com/p/falling-ec...
economystupid.substack.com
Falling economic vibes signaling recession?
Conference Board and UMichigan agree on vibe dive. But, too soon to call recession.
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Adil Sayeed @adilasayeed.bsky.social · 21/02/2025
Trump’s honeymoon gone bad like Liz Taylor marriage. Index of Consumer Sentiment down 9% wiping out post-election economic vibes honeymoon. open.substack.com/pub/economys...
open.substack.com
Trump’s honeymoon gone bad like Liz Taylor marriage
Post-election vibes honeymoon over. -9% consumer sentiment drop in February.
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Adil Sayeed @adilasayeed.bsky.social · 17/02/2025
Lucky Trump inherits best misery index for new president since Ike 1953. But, economic vibes still low. Republicans will win in 2028 only if Trump keeps US economy humming. What are chances demented Trump will be a good economic manager? economystupid.substack.com/p/lucky-trum...
economystupid.substack.com
Lucky Trump? Best economy for new president in 70 years
Trump inherits best misery index for new POTUS since Ike. But, economic vibes still low.
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Adil Sayeed @adilasayeed.bsky.social · 04/02/2025
Jeff Bezos after the election: “he (Trump) is calmer than he was the first time” Who agrees with Bezos? economystupid.substack.com/p/bezos-calm...
economystupid.substack.com
Bezos’ “calmer” Trump fails air crash test
Bezos’ false hope for 2nd term: “he (Trump) is calmer than he was the first time”
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Adil Sayeed @adilasayeed.bsky.social · 09/01/2025
Federal Reserve a bit player until Carter picked Volcker -- hinge moment in US economic history. Inflation ended Carter’s presidency, yet he appointed the man who ended high inflation. Brad DeLong is wrong that Volcker got job due to White House bumbling. economystupid.substack.com/p/fed-a-bit-...
economystupid.substack.com
Fed a bit player until Carter picked Volcker
Hinge moment in US economic history would not have occurred without Jimmy Carter.
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