US consumers have exhausted their savings:
— The Kobeissi Letter (@KobeissiLetter) June 28, 2024
$2.3 trillion of accumulated savings have been depleted by Americans since August 2021.
In other words, $67.6 billion of savings has been spent by US consumers PER MONTH.
As savings have declined, consumer credit card debt has spiked… pic.twitter.com/R3D1LSq3bL
Maher nails it
https://www.facebook.com/reel/1099300729090332