Consumer sentiment is lower today than during the height of the pandemic lockdown in March/April of 2020.
It is currently at levels traditionally seen during recessions.
— Wealthion (@wealthion) July 14, 2024
THIS IS WILD:
$2.1 trillion of US excess savings were spent in 3 years
As a result, cumulative excess savings are now NEGATIVE $170 billion
At the same time, SERIOUS delinquencies of 90+ days for credit card debt spiked to 10.7%, the highest in 12 yearst.co/KQIHG0EF3e
— Global Markets Investor (@GlobalMktObserv) July 14, 2024
Excess Savings: Americans accumulated approximately $2.1 trillion in excess savings during the pandemic. As of March 2024, these savings have been fully spent.
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