And once again, another retail company signals consumer spending is stalling quickly. $NKE falls over 12% (huge move for that stock) in after-hours on lower forecast. The economy is in trouble. Will take time to develope but it is coming.
— Gareth Soloway (@GarethSoloway) June 28, 2024
Top two stories on CNBC from Walgreens and Levi’s both saying Americans are tapped out.
Notice Walgreens “slash costs by closing stores” IOW fire people.
This is the part of the cycle where unemployment is a big problem.
Inflation causes recession causes disinflation/deflation pic.twitter.com/m1JTOIfCZL
— George Gammon (@GeorgeGammon) June 27, 2024
Those $1400 stimulus checks have all been spent. pic.twitter.com/FHUw3Sqqxv
— Nomi Prins (@nomiprins) June 27, 2024
Even High Earners Worry About Making Ends Meet, US Poll Finds
Making ends meet in the coming year is a rising concern for US consumers, including so-called “high-earners” who make $100,000 or more a year,