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  • Consumers More Pessimistic About Future Business Conditions, Jobs, and Income

    From prnewswire.com

    The Conference Board Consumer Confidence Index® deteriorated for the third consecutive month in April, retreating to 97.0 (1985=100) from a downwardly revised 103.1 in March. Despite these three months of weakness, the gauge continues to move sideways within a relatively narrow range that's largely held steady for more than two years. The Present Situation Index—based on consumers' assessment of current business and labor market conditions—declined to 142.9 (1985=100) in April from a downwardly revised 146.8 in March. Meanwhile, the Expectations Index—based on consumers' short-term outlook for income, ... (full story)

Wow who would think the higher costs of things while my wage is marginally up would make consumers pessimistic.

Man wait until that credit card debt hits a bubble which I see coming up in the next few months/years as consumers have their back against the wall with tighter conditions.
The solution is (x).
Quoting Momofrmnyc
Wow who would think the higher costs of things while my wage is marginally up would make consumers pessimistic. Man wait until that credit card debt hits a bubble which I see coming up in the next few months/years as consumers have their back against the wall with tighter conditions.
Chicago FED recently reported rising delinquencies on all forms of consumer debt; credit card, auto loans, student loans, and rent.

Jamie Dimon had recent said, of lower income to middle, have all but spent Covid 19 payouts. Only the top 50% of earners have retained some of this disposable income
Break the cake
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Quoting Rich.C
{quote} Chicago FED recently reported rising delinquencies on all forms of consumer debt; credit card, auto loans, student loans, and rent. Jamie Dimon had recent said, of lower income to middle, have all but spent Covid 19 payouts. Only the top 50% of earners have retained some of this disposable income
It's also been pretty quiet that First Republic Bank was seized by the FDIC this past weekend and sold to Fulton Bank. Cracks in the economy are getting wider and wider.
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