It's almost game over for the consumers
Excess savings from C19 have likely depleted
Credit card debt has surpassed $1 trillion
Interest rates on credit cards have crossed 20%
Personal interest payments is over $500 billion
Personal savings rate is at 3.9%, levels unseen… pic.twitter.com/QWoLR5qZwW
— Bravos Research (@bravosresearch) October 2, 2023
Warning: Helicopter money from the Pandemic has run out
US fiscal expenditure just saw its deepest contraction in a decade
Given the fragility of the system, an increase in fiscal spending is only a matter of time
The economy can only handle so much before something breaks in… pic.twitter.com/9KqnsN1FhH
— Bravos Research (@bravosresearch) October 2, 2023
The move in orange juice prices is largely related to supply issues.
However, inflation in food prices is still elevated.
Even if we have disinflation, it’s important to note that prices are still RISING.
Follow us @KobeissiLetter for real time analysis as this develops.
— The Kobeissi Letter (@KobeissiLetter) October 2, 2023
Bottom 80% of Households Deplete Savings Under Bidenomics
The latest Federal Reserve study reveals a grim financial picture for 80% of American households, whose bank deposits and liquid assets, adjusted for inflation, have dipped below the levels seen at the pandemic’s onset in March 2020. While the wealthiest 20% of households have managed to retain an 8% increase in cash savings since the pandemic began, the bottom two-fifths have experienced an 8% drop, and the middle class has seen their savings dwindle below pre-pandemic levels. This economic disparity underscores a widening financial gap amidst ongoing challenges.