The American credit card fiasco has come to an end… 🫡 pic.twitter.com/CPOuXQPdXL
— Don Johnson (@DonMiami3) August 7, 2023
The decline in revolving credit outstanding suggests Americans may be starting to cut back on credit card usage –
BBG notes “If sustained, a broader spending pullback could threaten the expansion”
Yes, obviously (credit card debt is consuming now vs servicing in future)
— Adem Tumerkan (@RadicalAdem) August 7, 2023
Shrinking number of Americans can afford a $400 emergency expense … per recent @MorningConsult poll, 46% of respondents said they could cover surprise expense (down from 48% in prior quarter); >1/3 said they’d need to use some sort of debt @Bloomberg pic.twitter.com/A8tP6r5knl
— Liz Ann Sonders (@LizAnnSonders) August 7, 2023
I think its higher than that but $736 or $900 = same difference https://t.co/sSaClM1rrX
— @mcm_ct_usa (@mcm_ct_usa) August 7, 2023
Recession odds/news collapsed in 1990, 2000 and 2007. That makes today *not* different thus far in that context. #macro https://t.co/RjI2NwjaGK pic.twitter.com/u9OT00NTb0
— Kantro (@MichaelKantro) August 7, 2023