In episode #2608, We discuss the expected increase in holiday spending despite concerns about a recession. We highlight the impact of inflation on consumer budgets and the potential consequences of high levels of debt. We also discuss the need for businesses and individuals to be more realistic about their financial expectations and the importance of discipline in the current economic climate. Our conversation concludes with a prediction that 2024 will be a year of reckoning for many as the effects of high-interest rates and economic realities become more apparent.
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TIME-STAMPED SHOW NOTES:
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(00:00) Today’s topic: Shoppers Expected to Spend the Same or More This Holiday Season
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(00:31) Consumers plan to shop at discount and traditional department stores
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(01:12) Consumers still spending despite inflation and higher costs
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(02:51) Deloitte report projects rise in retail sales this holiday season
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(03:53) Consumers with lower incomes expect to spend more
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(04:14) Tech layoffs and impact on spending
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(05:24) Reality check needed for business valuations
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(06:19) Lack of discipline in raising funds and trading on potential
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(07:20) High interest rates and debt will impact spending
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(07:34) Uncertainty about when the economy will improve
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(07:41) That’s it for today! Don’t forget to rate, review, and subscribe!
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