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E137: Inflation cools, market rips, Ripple/MSFT beat regulators, NATO summit, cocktails of youth
All-In with Chamath, Jason, Sacks & Friedberg
The Resilience of Consumer Demand and the US Economy
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- Double or triple bonus unemployment and deferred student loans were defining factors in the last two years, but they have come to an end
- Consumers will need to get back to work in September due to increasing credit card debt
- Raising interest rates aims to encourage consumers to increase spending on car and mortgage bills
- The US economy is resilient in terms of consumer demand, even during periods of extreme shock
- Consumer demand tends to snap back quickly after economic downturns
- People are likely to re-enter the labor market and manage their finances more effectively
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