Steve Eisman: U.s. Consumers Are Collapsing: Cars, Credit, & the Chaos Ahead [video]
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EconomyConsumer DebtFinancial Crisis
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Economy
Consumer Debt
Financial Crisis
Steve Eisman discusses the potential economic chaos caused by collapsing US consumer spending, credit issues, and the automotive industry, sparking concerns about the broader economic implications.
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* 69% of the US population are living paycheck to paycheck
* 25% of American consumers are using BNPL (buy now pay later) to pay for groceries
https://ycharts.com/indicators/us_personal_saving_rate
This shows that one time payments of covid relief money doesnt really do much.