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It Might Take a Recession to Slow Down the Consumer
Sometimes life would be easier if everyone was more like Keanu Reeves: image But other times you just can’t help yourself: image I’m choosing door #2 today. Sorry, Keanu. I’ve seen some variation of this chart making the rounds for a few weeks now: image At face value, it looks scary and even obvious. During the pandemic, the personal savings rate skyrocketed while credit card debt plummeted. Now the opposite is happening as savings rates tumble while credit card debt is back on the rise. The consumer is screwed. Case closed. Right? I’m sorry to inform you that this is a misdemeanor chart crime of the ... (full story)