159: What All-Time High Consumer Debt Means for the Economy and the Housing Market

Nov 13, 2023

30:59

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The US economy is on the brink of a recession, but consumers don’t seem to care. Consumer spending is up, credit card debt is through the roof, and the average American’s excess savings have been depleted. Could this financial rager we’re throwing end in chaos for the US economy? Or are these frightening metrics pointing to something else entirely? Today, Dave will get into the nitty-gritty details of the US consumer.

After some serious pandemic stimulus, Americans were riding high, buying whatever they could with their stocked-up savings. But now, economic sentiment among Americans is starting to fall, and many believe a recession could be around the corner. With consumer spending making up the majority of economic activity in the US, if it starts to fall, our economy could go down with it.

Dave will give you the numbers and updates you need to know EXACTLY what’s going on with the US consumer, whether or not rising debt and spending really matters, and the factors that could force spending to fall.

In This Episode We Cover:

Why consumer spending is exploding at a time when recession risk is high

Declining consumer sentiment and why Americans are fearful of the future

All-time high credit card debt and whether or not delinquencies are rising with it

When Americans’ “pandemic savings” will run out

Resuming student loan payments and how they could hurt the average consumer

And So Much More!

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