As of August, massive uptick in % of households saying they’re much worse off vs. a year ago (blue) per NY Fed Survey of Consumer Expectations
The restart of student-loan payments could divert up to $100 billion from Americans’ pockets over the coming year, leaving consumers squeezed and some of the nation’s largest retailers fearing a spending slowdown. Starting Oct. 1, tens of millions of student-loan borrowers will need to make payments averaging between $200 and $300 each month. The payments
Default rate on credit card loans from small lenders has now surpassed the highs of: – Dot Com bubble – Financial Crisis – Pandemic This won’t end well
Credit card companies are racking up losses at the fastest pace in almost 30 years, outside of the Great Financial Crisis, according to Goldman Sachs. Credit card losses bottomed in September 2021, and while initial increases were likely reversals from stimulus, they have been rapidly rising since the first quarter of 2022. Since that time,
Dick’s Sporting Goods and Macy’s shares traded sharply lower Tuesday after the retailers posted weaker quarterly earnings and provided tepid forecasts for the remainder of the year, signals that the recent strength in consumer spending has its limits. The sporting-goods chain slashed its profit targets for the year after missing Wall Street forecasts for the
Five years ago, there were a dozen models of new cars that sold for less than $20,000. In 2023, there was only one: the spartan Mitsubishi Mirage hatchback, which accounted for about 5,300 of the 7.7 million new vehicles sold in the U.S. in the first half of the year. If you are willing to