The educational-industrial complex is laughing all the way to the bank.
Forbearance and pandemic cash run out. But a lot of fun was had by all.
Buy-Now-Pay-Later (BNPL) Lenders Face Tougher Reality.
The balance of loans & leases outstanding rose on much higher vehicle prices but much lower sales volume.
Though spending is slowly shifting back to services, consumers still binged on durable goods.
What Powell had indicated: Consumers hung in there, amid strong labor market, surging wages. But private investment plunged, incl -14% in residential.
Freight volume is down from the red-hot levels last year, but remains relatively high, after the grotesquely overstimulated demand last year.
But inflation is eating everyone’s lunch.
Some demand destruction due to high prices, particularly gasoline. Shortage of new vehicles not helpful for spending on durable goods.
Spent $20 billion more at gas stations, from a year ago, due to spiking prices; came out of hide of other retailers. Inflation eats everyone’s lunch.