{"id":1440994,"date":"2023-11-28T14:15:00","date_gmt":"2023-11-28T19:15:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1440994"},"modified":"2023-11-28T14:15:00","modified_gmt":"2023-11-28T19:15:00","slug":"is-the-american-consumer-tapped-out","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/is-the-american-consumer-tapped-out\/1440994\/","title":{"rendered":"Is The American Consumer Tapped Out?"},"content":{"rendered":"

Is The American Consumer Tapped Out?<\/span><\/p>\n

\n

Authored by Jesse Felder via TheFelderReport.com,<\/em><\/a><\/p>\n

Inflation has clearly made an impact <\/strong>on both the psyches…<\/p>\n

‘Americans expect prices will climb at an annual rate of 4.5% over the next year, up from the 4.4% expected earlier in the month, according to the final November reading from the University of Michigan.’ https:\/\/t.co\/Vo7z3oIDi6<\/a> pic.twitter.com\/RX8B6XP1Bm<\/a><\/p>\n

\u2014 Jesse Felder (@jessefelder) November 22, 2023<\/a><\/p>\n

…and the pocketbooks of American consumers<\/strong> over the past few years.<\/p>\n

‘The ability of US households to cover an unexpected $2,000 expense is at the lowest level in a decade, the Federal Reserve Bank of New York said.’ https:\/\/t.co\/swu6ItL4mF<\/a> pic.twitter.com\/aaxZAuHTv4<\/a><\/p>\n

\u2014 Jesse Felder (@jessefelder) November 20, 2023<\/a><\/p>\n

Now a deteriorating employment environment could do further damage.<\/strong><\/p>\n

‘Our Employment-Based Recession Composite is already consistent with oncoming recession. I don’t believe we have enough evidence to expect a recession with high confidence but it should be clear that the data are increasingly leaning away.’ https:\/\/t.co\/shWuffTDRm<\/a> by @hussmanjp<\/a> pic.twitter.com\/EGgPbMKbC8<\/a><\/p>\n

\u2014 Jesse Felder (@jessefelder) November 20, 2023<\/a><\/p>\n

That is, in fact, the message coming out of major retailers lately<\/strong>…<\/p>\n

‘Target CEO Brian Cornell said consumers were holding off from making many purchases until the last minute. For example, they didn’t buy winter clothing until the weather turned cold, classic recessionary behavior.’ https:\/\/t.co\/p4b8RiGJht<\/a><\/p>\n

\u2014 Jesse Felder (@jessefelder) November 20, 2023<\/a><\/p>\n

…and adds to the growing pile of evidence suggesting that an economic landing is likely to be anything but \u201csoft”<\/strong>…<\/p>\n

\ud83c\uddfa\ud83c\uddf8 One, two, three, four…<\/p>\n

… this is why I continue to be such a bore \ud83d\ude35\u200d\ud83d\udcab pic.twitter.com\/XnWdw4JX5y<\/a><\/p>\n

\u2014 Mikael Sarwe (@MikaelSarwe) November 21, 2023<\/a><\/p>\n

…and the lenders know it – \u201cReported average rejection rates for credit cards, auto loan, and mortgage loan refinance applications in 2023 exceeded those in 2022,\u201d <\/strong><\/em>the New York Fed said.<\/p>\n

And in case you need one more sign that the consumer is really tapped out…<\/p>\n

Buy Now Pay Later\u00a0usage hit an all-time high on Cyber Monday, contributing $940 million in online spending, up 42.5% from last year,<\/strong> according to Adobe Analytics.<\/p>\n

<\/a><\/p>\n

You will find more infographics at Statista<\/a><\/em><\/p>\n

The research firm says people are using BNPL services for larger carts.<\/p>\n

Adobe expects November to be the biggest month on record for BNPL services.<\/strong><\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nTue, 11\/28\/2023 – 09:15<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/american-consumer-tapped-out<\/a>\u00a0<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Is The American Consumer Tapped Out? Authored by Jesse Felder via TheFelderReport.com, Inflation has clearly made an impact on both the psyches… ‘Americans expect prices…<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1440994","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1440994","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1440994"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1440994\/revisions"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1440994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1440994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1440994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}