Quote:
Originally Posted by TboneS54
I don't know how people haven't run out of money, or credit limits, yet. I thought we were going to see the fallout last year. I guess many have a lot of equity now to tap into, variable interest rates be damned.
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Consumers, particularly on the low end, have been crushed; it just takes a little time to play out. This morning I heard some CEO, can't recall who, saying that they are seeing a "K-shaped" consumer base, with the low-end heading lower.
Plenty of evidence of slowing consumer spending here, too -
Ahead of retail earnings, here’s what we know about the consumer so far (CNBC)