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The U.S. Consumer Is Starting to Freak Out
wsj ^ | January 30, 2023 | Harriet Torry & Joe Pinsker

Posted on 01/30/2023 5:08:15 PM PST by RomanSoldier19

click here to read article


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To: Right Brother

Try removepaywall.com. I use it almost daily.


21 posted on 01/30/2023 5:37:12 PM PST by olivia3boys (t )
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To: McGavin999

Same thinking here. Paying off debt and not spending on anything buy necessities. The debt grim reaper is coming and it won’t be pretty.


22 posted on 01/30/2023 5:37:50 PM PST by Texas resident (Who is running our country?)
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To: Lonely Are The Brave
40 percent of Americans only have 400 dollars in the bank.

Wait a few months when major banks fail, and those 40 percent of Americans will have no dollars in the bank after bail-ins. U.S. consumers will really freak out.

23 posted on 01/30/2023 5:38:34 PM PST by roadcat
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To: SaxxonWoods

It’s also called “Hunkering down into survival mode”.


24 posted on 01/30/2023 5:38:52 PM PST by laplata (They want each crisis to take the greatest toll possible.)
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To: Right Brother

Freaking out here in this household. Refusing to buy anything labeled “BioEngineering Ingredients”
That’s like 70% of the groceries that we will not buy anymore.

Damn feds took away the GMO labeling and invented a term that encompasses so much that its meaningless.


25 posted on 01/30/2023 5:39:57 PM PST by George from New England
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To: RomanSoldier19
The engine of the U.S. economy—consumer spending

Sick.

The engine of a healthy economy is extraction and production.

26 posted on 01/30/2023 5:40:28 PM PST by Jim Noble (You have sat too long for any good you have been doing)
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To: dmcnash

Mr. America, walk on by your schools that do not teach
Mr. America, walk on by the minds that won’t be reached
Mr. america try to hide the emptiness that’s you inside
But once you find that the way you lied
And all the corny tricks you tried
Will not forestall the rising tide of hungry freaks daddy


27 posted on 01/30/2023 5:42:25 PM PST by dfwgator (Endut! Hoch Hech!)
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To: RomanSoldier19

https://www.youtube.com/watch?v=aXgSHL7efKg


28 posted on 01/30/2023 5:42:46 PM PST by Lonely Are The Brave (A man's got to know his limitations. Dirty Harry Callahan)
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To: McGavin999

56% of credit card holders say its gonna take a year or more to pay off what card debt they have now.

A different 17% say they don’t know when they will be able to pay off their cards.

Credit cards is where financial institutions make money. The interest rates on cc debt are incredible.


29 posted on 01/30/2023 5:43:06 PM PST by Secret Agent Man (Gone Galt; not averse to Going Bronson.)
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To: laplata

“It’s also called “Hunkering down into survival mode”.

Except for those who are in survival mode even in the best of times.


30 posted on 01/30/2023 5:44:37 PM PST by SaxxonWoods (The only way to secure your own future is to create it yourself. 111 is the key.)
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To: roadcat

“Wait a few months when major banks fail, and those 40 percent of Americans will have no dollars in the bank after bail-ins. U.S. consumers will really freak out”.

The average credit card balance is just a little over 6000 dollars for the average American. When those on time payments stop ... gotta feed the kids ... things will get dicey ...


31 posted on 01/30/2023 5:49:20 PM PST by Lonely Are The Brave (A man's got to know his limitations. Dirty Harry Callahan)
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To: RomanSoldier19

In 1981 Jimma Cotta gave me a 13.5% mortgage. What a POS. And now BiteMe is finishing us off.


32 posted on 01/30/2023 5:53:05 PM PST by IAGeezer912 (One out of every 20 people on the face of the earth are Americans. We have won life's lottery.)
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To: RomanSoldier19; All

The auto industry posted its worst sales year in more than a decade.

There is absolutely a 3/4ton pickup truck should cost over $70k or a Suburban costing $90-100k. But there they are. Who can afford one?

Paying $700/month over 84 mo the doesn’t even come close to covering those costs.

They say the housing market has slowed for everyone but the rich.

Things are absolutely insane. And now the clown is touting that a drive across the country will be fully electric and pushing his $7500 tax credit for EVs. And congress just lets him get away with it through its CRs


33 posted on 01/30/2023 6:02:58 PM PST by qaz123
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To: McGavin999

Excellent strategy. I’m doing the same.


34 posted on 01/30/2023 6:06:20 PM PST by frogjerk (More people have died trusting the government than not trusting the government.)
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To: McGavin999

I’m not buying anything not required.
____________________________________________

This is the first month that I don’t have enough money in my bank accounts to cover my: 6 month auto, my home-owners and a surprise association assessment. I also had a $400 JCP purchase that made me whole. (long story: estate and greedy siblings)

It sucks. I sold some stock and will fill up my bank account, but what do people do who aren’t as fortunate as I am? Food is over $100 a month more than budgeted for.


35 posted on 01/30/2023 6:06:34 PM PST by BarbM (Men who look at porn are impotent to God.)
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To: RomanSoldier19

The current Washington regime is pushing prices up so far that many people simply are scared


36 posted on 01/30/2023 6:07:31 PM PST by faithhopecharity (“Politicians are not born. They're excreted.” Marcus Tillius Cicero (106 to 43 BCE))
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To: goodnesswins

How about the comforting Motherly Love by Frank Zappa and the Mothers of Invention in the classic album Freak Out?

https://www.youtube.com/watch?v=1LeLaw4hKpg


37 posted on 01/30/2023 6:09:36 PM PST by frank ballenger (You have summoned up a thundercloud. You're gonna hear from me. Anthem by Leonard Cohen)
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To: dmcnash

I was preparing Motherly Love at the time but good to see another great mind at work here.


38 posted on 01/30/2023 6:10:16 PM PST by frank ballenger (You have summoned up a thundercloud. You're gonna hear from me. Anthem by Leonard Cohen)
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To: Lonely Are The Brave

Wait until they cut credit lines, or flat out cancel the cards. They’re in the process of cutting HELOC loans if not used, oh you can reapply at a higher rate.


39 posted on 01/30/2023 6:10:39 PM PST by Keyhopper (Indians had bad immigration laws)
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To: Right Brother

I could read without prescription


40 posted on 01/30/2023 6:12:23 PM PST by STJPII ( )
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