Recession Risk Rises as U.S. Consumer Spending EXPLODES

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U.S. consumer spending has hit an all-time high, EVEN as recession fear is rising. More concerning, credit card debt is off the charts, with over $1 TRILLION in balances to be paid. Is a shockwave about to hit the everyday American who has more debt than what’s in their bank account? Today, Dave will go over the state of the U.S. consumer, from debts to economic sentiment, spending, and more.

Since consumer sentiment drives much of the country’s spending, it’s a surprise why Americans are swiping their cards when many fear job losses could be right around the corner. Dave also looks at the current employment numbers and whether cracks are starting to form that could cause a major economic catastrophe in America. One thing is for certain: if you’re debt-free with cash on hand, you’re better off than most Americans!

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Resources from Today’s Video:
Consumer Expenditures: https://fred.stlouisfed.org/series/PCE
Consumer Debt Service: https://fred.stlouisfed.org/series/CDSP
Consumer Sentiment: http://www.sca.isr.umich.edu/
Current Financial Situation/Likelihood of Recession: https://www.conference-board.org/topics/consumer-confidence
U.S. Total Household Debt: https://ycharts.com/indicators/us_total_debt
Debt and Percent of Delinquencies: https://www.newyorkfed.org/microeconomics/hhdc
GDP Estimate: https://www.atlantafed.org/cqer/research/gdpnow
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FRED® Graphs Federal Reserve Bank of St. Louis. 2022. All rights reserved. All FRED® Graphs appear courtesy of Federal Reserve Bank of St. Louis. https://fred.stlouisfed.org/

0:00 The State of The US Consumer
0:35 Sponsor: PPR Capital Management!
1:26 All-Time High Spending
2:25 Consumer Sentiment Falls
5:06 Credit Card Debt Explodes
6:46 Bigger Issues Ahead?
9:53 Debt Delinquencies
10:52 Will Strong Employment Save Us?

Видео Recession Risk Rises as U.S. Consumer Spending EXPLODES канала BiggerPockets