Americans Still in No Mood for Recession: New Vehicle Sales Jump 17.5% in Q2 YoY as Inventories Normalize after Shortages by Wolf Richter • Jul 6, 2023 • 88 Comments Incentives jump but still below normal. Average Transaction Price and Average Listing Price stuck at ridiculous levels.
Our Drunken Sailors Are in No Mood to Give Up Spending, and They Can Afford it by Wolf Richter • Jun 30, 2023 • 289 Comments Personal income solidly outpaces inflation.
Waiting for the Promised Recession: Economic Growth even Stronger than Feared, Treasury Yields Spike by Wolf Richter • Jun 29, 2023 • 218 Comments The Fed has jacked up interest rates to over 5% to slow down this circus, and instead we’re getting accelerated growth.
5% Interest Income from CDs, T-Bills, Money Markets Fueled Spending. Higher Borrowing Costs Cut Spending. And on Net? by Wolf Richter • Jun 10, 2023 • 228 Comments Interest income is a big number that got a lot bigger, and people are spending some of it.
Why Jobs in Retail Are at 2007 Levels: It’s Structural. Jobs in Ecommerce & Services Boomed but Aren’t in “Retail Trade.” And Half of Retail Trade is Moribund by Wolf Richter • Jun 5, 2023 • 84 Comments Walmart U.S. gave us some color: ecommerce sales +27%; grocery sales +12%; non-grocery brick-and-mortar sales -10%.
Americans’ Ability to Pay for Emergency Expenses or Three-Month Job Loss with Cash/Cash Equivalent, by Selling Assets, by Borrowing, or Not at All by Wolf Richter • May 27, 2023 • 188 Comments 54% have three months of expenses set aside in their account. But 13% can’t pay for a $400 emergency expense.
Despite Getting Whacked by Bank Turmoil, Layoff News, Credit Crunch, High Interest Rates, and Inflation, our Drunken Sailors Spent Even More, Even Adjusted for Inflation by Wolf Richter • May 26, 2023 • 241 Comments Where does the money come from? They now out-earn inflation and dipped into their assets whose prices ballooned over the years.
I’m Surprised How Well Retail Sales Held Up despite Price Drops of Many Goods as Spending & Inflation Shifted to Services by Wolf Richter • May 16, 2023 • 81 Comments Dropping prices cause dollar-sales to drop even if unit sales rise. Home Depot today blamed part of its revenue decline on lower prices.
Household Debt as % of Disposable Income Fell to Good-Times Lows, on Much Higher Incomes Despite the OMG Headlines by Wolf Richter • May 16, 2023 • 104 Comments New delinquencies way below the pre-pandemic lows. Bankruptcies at record lows. The OMG stuff in the media about household debt is funny.
Households Far from “Tapped Out”: Credit Card Balances, Burden, Available Credit, Delinquencies & Collections by Wolf Richter • May 15, 2023 • 130 Comments Credit cards are a huge payment method but not a big borrowing method.
