We’ve said it before and we’ll say it again: During a tumultuous few years, consumer spending has kept the U.S. economy afloat. December retail data reflects that: Americans may be uncertain about their economic future, but they didn’t hesitate to spend it up during the holidays. But does the almighty consumer show signs of wavering? Also in this episode, China has built up its trade war playbook, wholesale electricity prices stabilize and the cost of retrofitting homes to resist wildfires varies.