Despite the rampant indoorification of outdoor dining.
Stimulus & extra UI dried up. But 16% of “proprietors’ income” in October was PPP money & Pandemic farm aid.
No one has ever put a number to it until now.
Credit-score algos got fooled by forbearance. Weirdest economy ever where no one knows what’s going on anymore.
My 13 whiplash-charts by retailer category.
Bounce back to what? The Pandemic Scrambled Long-Term Trends in both directions.
Auto loans jump after historic price spikes. Credit cards still in stimulus wonderland. Student-loan borrowers count on debt forgiveness, mmmkay.
Landlords already know this: People are getting more toasted than Wonder Bread.
People who need support, should get support. As for the rest? On my soapbox, wildly wagging consumer income and spending data.
GDP back to Q1 2018. Worst ever “net exports.” The decline in government spending was also a drag. “GDP per Capita” bounced back only to 2017 level.