Thoughtful Money with Adam Taggart Stephanie Pomboy: Economy Is A 'Slow-Motion Train Wreck' In Process
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Jul 9, 2025 
Stephanie Pomboy, a macro analyst and market strategist, shares her insights on the economy, highlighting a 'slow-motion train wreck' unfolding. They discuss the decline in consumer spending, rising credit card delinquencies, and the impacts of stubbornly high bond yields. Pomboy emphasizes the disconnect between Wall Street's optimism and Main Street's realities, suggesting potential recession signals. She also critiques the growing economic disparity and the significance of hard assets, like gold, in navigating financial uncertainties.
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Credit Delinquencies Signal Slowdown
- Rising credit card delinquencies force consumers to cut back on spending, signaling an economic slowdown.
- Reduced spending pressures corporate profits and employment, pushing the economy toward recession.
Student Loans Drag Consumer Spending
- Student loan repayment resumption is straining consumer credit, forcing reduced credit card borrowing and spending.
- This may soon reveal in retail sales data as a broader slowdown in consumer spending.
Housing Affordability Crisis
- Housing affordability has declined sharply, with mortgage payments consuming 46% of median household budgets.
- Either mortgage rates must drop dramatically or home prices must fall significantly to improve affordability.