Charles Payne warns of a collapse in American spending, citing steep declines in restaurant, airline, and lodging purchases. Bank of America data shows credit card spending stagnating as debt hits record highs. Rising interest rates are squeezing consumers.
Fox News and related outlets always had a couple of rational sounding people. This is by design, or script, if one is cynically inclined.
I am certain the vast majority of fox management and anchors barely think about such things, and would not be too bothered
This person is a DEMOCRAT OPERATIVE! TRUMP would NEVER let Workers get Stiffed, Boned, Unpaid or Exploited! He TOLD me that!
Unemployment not helping. And all the ownership class seem to be salivating over replacing their workforce with AI. Who’s going to buy anything when we’re all out of work?
That’s where the credit cars debt comes in.
It’s a tool of the owner class that allowed people to keep consuming even as wages shrank and shrank.
But card debt too is at breaking point now.
This is part of the reason I have always refused to get a credit card. Seems to be going well for me so far. Already got a house and other than that never plan to borrow money again.
If you are financially stable you can certainly use credit cards in a responsible way, gaming the system to earn cashback, points and other perks while always paying back in full and thereby never giving the card companies anything.
But it’s obviously tempting to build up debt.
It’s okay. As long as we give the rich more tax breaks, I’m sure the economy will get better! /s
Yes, all that money will “trickle down” to consumers. It will be like a refreshing spring rain washing over us and not at all like a jar of trucker piss thrown from a window.
