We’ve written a lot about the headwinds facing the US economy as we enter the fourth quarter. The exhaustion of pandemic era accrued savings for many households is likely to be a very important theme, as will the ongoing tightening of lending conditions amidst 20+ year high borrowing costs. Then there are higher energy costs that are eating into spending power plus the restart of student loan repayments that will intensify the squeeze on household finances in the months ahead. Now added to that list is the high probability of a government shutdown, which will see government work disrupted, hundreds of thousands of ... (full story)