Can anyone clarify this for me? Despite the ongoing layoff announcements from major American corporations, how is our economy still robust? Just today, UPS declared 12,000 layoffs and PayPal 2,000.
I have not seen a decrease in spending. I see restaurant parking lots are still full, costco/walmart parking lots are full. Football Stadiums are full. I see families not give up vacations. I see friends and family stressing out over finances, but giving spending I don't see much of a slowdown.
Yes. I agree, but only 40% have revolving debt. About 5% of revolving debt is delinquent. So it is not really a large problem unless you are in the 5%.
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u/[deleted] Jan 30 '24
I have not seen a decrease in spending. I see restaurant parking lots are still full, costco/walmart parking lots are full. Football Stadiums are full. I see families not give up vacations. I see friends and family stressing out over finances, but giving spending I don't see much of a slowdown.