Increase in credit card debt does not necessarily mean “robust demand” it means people are using credit to pay for their food and utilities which they used to pay with cash or check.
The tipping point is coming. The crash should be epic. I better get in touch with William Devane.
And the stock markets are acting like they believe inflation has cooled and is under control. So much manipulation.
I’m liking that inflation, while still high and rising, has slowed its rate of rise this early in the tightening. Can’t predict if that continues to improve but the initial effect of the tightening is encouraging. We have to realize that only the first rate-rise has worked its way into the economy at this point due to the time lag of rate-rise effect.
Debt is increasing because interest rates are rising. Jobs are still plentiful. In a short while people will reduce their debt because of the high interest. Its just happening so fast that people need time to adjust.
NY Fed: Consumer Debt Rises in Third Quarter on Strong Demand, High Inflation!
That Consumer Debt was/is probably due this month.
How many democrats have enough funds to cover/pay for those purchases aka Consumer Debt?
Those planning to use their free student loans to pay for their purchases are finding out how democrats $crew their voters.
This is probably part of the reality where Amazon is cutting payrolls and not moving into new warehouses.
Somewhere along with these issues, we just got a first class mailing noting that, we might be eligible for a basically free internet up to $29.95 /month if our monthly income is at or below a certain amount via the Affordable Connectivity
Program, (ACP).
So you can be unemployed and have a free internet up to $30/month.
NY Fed: Consumer Debt Rises in Third Quarter on Strong Demand, High InflationI'll rephrase for accuracy: