Why Consumer Sentiment Fell To A Seven-Month Lowmises.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.
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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.
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75 sats \ 1 reply \ @Undisciplined OP 22 Jun
And yet, our currency is still drinking everyone else's milkshake.
USA! USA!
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42 sats \ 0 replies \ @grayruby 22 Jun
There are a lot of dirty shirts in the laundry.
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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.
🤡🌎
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21 sats \ 3 replies \ @Satosora 22 Jun
Credit cards are never good when they accumulate debt. Its not free money, you still owe it.
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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.
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21 sats \ 1 reply \ @Satosora 22 Jun
I did see that luxury product market keeps soaring.
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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.
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