Why Consumer Sentiment Fell To A Seven-Month Low \ stacker news ~econ

pull down to refresh

Why Consumer Sentiment Fell To A Seven-Month Low mises.org/mises-wire/why-consumer-sentiment-fell-seven-month-low?utm_source=MI+Subscriptions&utm_campaign=8d1aafc464-EMAIL_CAMPAIGN_2024_03_01_07_02_COPY_01&utm_medium=email&utm_term=0_-fb69bb184c-%5BLIST_EMAIL_ID%5D

242 sats \ 8 comments \ @Undisciplined 22 Jun econ

By Daniel Lacalle

The US consumer has been adding debt to maintain consumption, and credit card debt has reached new record levels. This is not a strong economy.

view all related items

92 sats \ 2 replies \ @grayruby 22 Jun

I have been highly impressed with the American consumer’s ability to erode all their gained savings during COVID and pile on ever more credit card debt.

American exceptionalism indeed.

75 sats \ 1 reply \ @Undisciplined OP 22 Jun

And yet, our currency is still drinking everyone else's milkshake.

USA! USA!

42 sats \ 0 replies \ @grayruby 22 Jun

There are a lot of dirty shirts in the laundry.

42 sats \ 0 replies \ @jeff 22 Jun

Best part of the article right here...

Joe Biden posted on X “Zero. That was monthly inflation in May. There is more to do still, but this is welcome progress.” Inflation was 3.3% in May, and services, shelter, and electricity increased by 5.3%, 5.4%, and 5.9%, respectively. A zero increase in June in the CPI reading is not zero inflation in the month.

🤡🌎

21 sats \ 3 replies \ @Satosora 22 Jun

Credit cards are never good when they accumulate debt. Its not free money, you still owe it.

20 sats \ 2 replies \ @Undisciplined OP 22 Jun

If you look at other data on what people are spending on, it looks like people are just really budget constrained.

At some point, something will have to give. Probably, it will be a lot of people moving into less expensive places.

21 sats \ 1 reply \ @Satosora 22 Jun

I did see that luxury product market keeps soaring.

0 sats \ 0 replies \ @Undisciplined OP 22 Jun

Really? I don't think the one I'm thinking of had a separate "luxury" category.

People are spending less on things like dining out, travel, entertainment and more on groceries, insurance, energy, housing.