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The article provides the reassurance we need in these unsettled times:
Wall Street has so far brushed off concerns about rising credit debt levels and payment struggles, forecasting earnings growth to accelerate from 5.6% in the first quarter to 17.1% by the fourth quarter.
But it also ends with a warning from an expert who understands how we should view these rising credit card delinquencies:
“If our forecast of a benign moderation in the labor market is correct, we think consumer spending will remain resilient,” wrote Michael Gapen, Bank of America Global Research analyst. “However, elevated credit card delinquencies among lower-income consumers could increase the sensitivity of these consumers to an adverse labor market shock.”
Truly spoken from the heart, Mr. Gapen.
― more difficult than I look (Aimless), Saturday, 25 May 2024 20:36 (one month ago) link
The most minor of minor shitbinnery (relating to food prices, specifically) but I buy boxes of Clif Bars to have at work and noticed a couple weeks ago that they weren't being restocked and had a 'DISCONTINUED' label on the shelf underneath and I'm like, what's that about, and I found out what that was about when the shelves began to be restocked with the same size boxes for the same price except now there are five bars per package instead of six and each of the bars are noticeably smaller than before, and well
https://www.reddit.com/media?url=https%3A%2F%2Fi.redd.it%2Fgns8tc2oof3d1.png
You love to see it (Mondelez says so).
― Great-Tasting Burger Perceptions (Old Lunch), Tuesday, 4 June 2024 16:14 (three weeks ago) link
More grist for the mill:
Washington Post reports that “Average hourly wage growth accelerated sharply in May, to $34.91, up 4.1 percent from the previous year. Wages have consistently beaten inflation for nearly a year, boosting American workers’ standard of living after years of wages falling behind inflation.”
Gift link: https://wapo.st/3x6r36s