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Thoughtful Money with Adam Taggart
Stephanie Pomboy: The "Spent Up & Lent Up" Consumer Is Tapped Out
May 12, 2024
Stephanie Pomboy, economic analyst, discusses the disconnect between economic optimism and consumer struggles, warning of a slowdown due to rising debt levels and unsustainable spending patterns. She explores the impact on the job market, government spending, inflation, and challenges in treasury markets, predicting market corrections post-election.
01:32:38
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Quick takeaways
- Consumers are facing financial strain, depleting savings and relying on credit cards for basic needs.
- Concerns arise over the US economy's health mismatch with the struggles of the average individual.
Deep dives
Consumer Financial Strain and Economic Forecast
Consumers are experiencing financial strain as they deplete savings and ramp up credit card debt to meet basic needs, affecting confidence, employment, and spending choices. Concerns are rising over the mismatch between the perceived health of the US economy and the struggles faced by average individuals. Analysts predict a significant economic slowdown due to debt servicing challenges for consumers and corporations amid rising interest rates.
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Discover
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