Consumer exuberance maxed out last summer and has since changed direction.
“A development that is surprising during a strong economy and labor market”: New York Fed
Consumers are doing their job only in a lackadaisical manner. But the student-loan scheme is hot.
Americans love paying big profit margins for big equipment, and automakers love them for it, but total sales are declining, and something doesn’t add up.
But for the markets: “No Data is Good Data”
So what’s going on here?
Consumers are being lackadaisical again with their plastic.
But ballooning inventories point at risks next year.
The US is “on an unsustainable fiscal path, there’s no hiding from it.”
Home-equity-loan balances in Canada per capita are now 3.3 times what they were in the US during HELOC peak before it all collapsed.