People Are Running Out Of Money

Steve Van Metre, an expert on economic challenges facing US consumers, discusses the alarming decline in American savings, which are now at just 3.4%. He highlights how stagnant incomes and rising unemployment are pushing consumers to rely heavily on credit, leading to increasing delinquencies. The conversation delves into the disconnect between manufacturing output and consumer demand, raising concerns about future economic prospects. Van Metre paints a stark picture of financial anxiety and the potential risks of a looming recession.