Any economist here to explain how consumer spending is growing if the economy is so bad?
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Replies to: Any economist here to explain how consumer spending is growing if the economy is so bad?
Thread Level: 2
Credit Card debt is over a trillion dollars and folks are defaulting.
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Thread Level: 3
Credit card debt means folks are not good at budgeting. Maybe they need more Dave Ramsey.
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Thread Level: 4
Dave Ramsey's program in a nutshell: Make sure you make six figures but live like you make five
Doesn't work for most Americans.
Thread Level: 4
Not true. But since you have all the answers why ask the question?
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Thread Level: 5
What's not true about it? People don't pay reoccurring bills on cc.
If you do you're doing it for the points and paying it off monthly. Almost all cc use is for discretionary spending
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Thread Level: 2
You may be able to figure this out yourself, kiddo.>>>>>>
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Link: https://fred.stlouisfed.org/series/CPIFABSL
Thread Level: 3
What are your thoughts on this?
For example, consumer sentiment is improving. One recent survey shows that consumer sentiment jumped 13% in January 2024 compared to the previous month. It again rose modestly in February and is 19.0% higher from year ago levels. Those all appear to be encouraging signs for consumer spending in 2024.
Link: https://www.usbank.com/investing/financial-perspectives/market-news/consumer-spending.html
Thread Level: 3
I doubt that.
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