Consumer sentiment is lower today than during the height of the pandemic lockdown in March/April of 2020. $2.1 trillion of US excess savings were spent in 3 years

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 yearshttps://t.co/KQIHG0EF3e

— Global Markets Investor (@GlobalMktObserv) July 14, 2024

Consumer Sentiment: Recent data indicates that consumer sentiment has indeed fallen below the levels seen during the height of the pandemic lockdown in March/April 2020.

Excess Savings: Americans accumulated approximately $2.1 trillion in excess savings during the pandemic. As of March 2024, these savings have been fully spent.