Just wait. First, the student loan deferrment ends in September, which means that most of these millions of borrowers will now have to pony up $300 to $1,200 per month to pay back their loans. For two years these deadbeats have been spending this money on personal consumption.
Second, consumers had fattened up their savings under Trump and when COVID hit, and the spending of that savings over the last year has been a tailwind for the economy. Credit cards are starting to get maxxed out, which will result in a decline spending.
Third, businesses can only shrink their goods so much. I ordered a McDonald’s hamburger yesterday and it was barely bigger than a White Castle burger.
Fourth, the impact of the interest rate hikes have not fully kicked in. Those maxxed out credit cards are having their interest rates increase.
Give it about another 6 months for the balloon to popl
“I ordered a McDonald’s hamburger yesterday and it was barely bigger than a White Castle burger”
Why would anyone expect a McDonald’s hamburger patty and bun to be bigger than anyone else’s?
Any idea when the price of a used Toyota truck will come down?