Stimulus & extra UI dried up. But 16% of “proprietors’ income” in October was PPP money & Pandemic farm aid.
Online sales jumped 37% in Q3, after 44%-Spike in Q2. Online food-and-beverage sales up 160%.
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.
After Crazy Price Spikes over the Summer, Wholesale & Retail Prices Drop, amid Lower Sales and Plenty of Supply.
Californians applying to lease single-family houses in Arizona, Nevada & Texas doubled from year ago; migration from New York & New Jersey to Florida similar: American Homes 4 Rent.
Auto loans jump after historic price spikes. Credit cards still in stimulus wonderland. Student-loan borrowers count on debt forgiveness, mmmkay.
Jobs not galore. And the target keeps moving.
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.