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Animal Spirits: The Consumer is Slowing Down
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On today’s show, we discuss:
Wall Street's favorite recession indicator is in a slump of its own
Amazon is slashing prices on 4,000 grocery items, joining Target and Walmart
Data has shown most American households have come out ahead of inflation
80% of Millenials have a mortgage rate under 5% - only 52% of Gen Z borrowers can say the same
Nearly 80% of Americans say fast food is now a luxury because it's become so expensive
Key engines of US Consumer spending are losing steam all at once
Listen here:
Recommendations:
Charts:
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Tweets:
When people ask why the US has outgrown Europe and Japan in the years since Covid, pumpers will often try to point to the large US fiscal deficit as the reason.
This lazy claim is easily refuted by the example of the UK. The UK ran a cumulative fiscal deficit that was almost as… x.com/i/web/status/1…
— Jesse Livermore (@Jesse_Livermore)
12:53 AM • May 31, 2024
My home insurance renewal was a 30% increase yoy
Not great
So I shopped around & actually found a price that was 20% lower than my previous policy last year (nearly 50% lower than the renewal amount)
I am doing my part to personally fight inflation from our corporate overlords
— Ben Carlson (@awealthofcs)
1:47 PM • May 31, 2024
the flippening: $IBIT passes $GBTC
BlackRock is now home to the world's biggest Bitcoin fund
— Katie Greifeld (@kgreifeld)
10:19 AM • May 29, 2024
Millennials' net worth was $5 trillion in early 2020
$13.5 trillion today @yardeni
— Mike Zaccardi, CFA, CMT 🍖 (@MikeZaccardi)
12:38 PM • Jun 2, 2024
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