We're shopping more - What Retail Apocalypse - Vacancy lowest in two decades, at 5.4 percent,

[citygator]

https://www.cnbc.com/2024/05/16/credit-card-balances-jump-8point5percent-year-over-year-delinquencies-rise.html

The Government is Causing a Credit Card Debt Crisis

Credit card debt is nothing to sneeze at. Because of the way it’s structured, it can quickly become exorbitantly expensive.

catalyst.independent.org

Inflation still isn’t letting up, and it’s a top concern for Americans right now. But we just learned of yet another way surging prices are hurting families—leading them into huge amounts of credit card debt.

“More Americans are racking up credit card debt as inflation pushes up the cost of food, utilities and other staples,” CBS News reports. “60% of credit card holders have been carrying balances on their cards for at least a year, up 10% from 2021.”

“59% of Americans who earn less than $50,000 a year carry a credit card balance from month to month,” the reporting notes. “The percentage drops slightly to 49% for those who earn between $50,000 and $80,000 and dips again to 46% for people making $80,000 to $100,000 a year.”

This is a serious problem for many families.

Nope. Not true.

 

[Winco]

I have zero debt. and never buy anything I can't pay for in cash... including my truck and my home which I paid cash for both... in fact the only plastic I ever use is Amex.... and I pay it off every month...

So many contradictions in this word salad.

Poor guy.

 

[Rambunctious]

Thanks to inflation eroding their paychecks and sending their expenses skyrocketing, many American families are finding themselves facing this potential scenario. And it’s important to remember that this isn’t some abstract economic phenomenon. The federal government caused inflation through its reckless fiscal and monetary policies during the pandemic.

It printed trillions of new dollars out of thin air and ran up multi-trillion-dollar deficits on wasteful “stimulus” spending. The inevitable result of this flood of dollars chasing the same number of goods (or even a smaller number) was always going to be higher prices. And that’s exactly what has happened.

But, as the credit card debt problem shows, the second-order consequences of the government’s bull-in-a-china-shop interventions are playing out far beyond just price hikes. It will take many years of study for us to fully understand all the different ways these reckless policies are hurting American families, but one thing is clear: the bill that ultimately comes due is going to be a big one.

 

[Rambunctious]

 

[Rambunctious]

More Americans are falling behind on their credit card bills.

About 8.9% of credit card balances fell into delinquency over the last year, according to the Federal Reserve Bank of New York — a sign that a growing number of borrowers are feeling the strain of rising prices and high interest rates.

"Everything is more expensive. Debt is more expensive. Rent is more expensive. Food, gas, everything," says Charlie Wise, senior vice president at TransUnion, the credit reporting firm. "Even with relatively healthy wage gains we've seen over last several years, many consumers just aren't keeping up with the price pressures."

 

[Harpy Eagle]

https://www.cnbc.com/2024/05/16/credit-card-balances-jump-8point5percent-year-over-year-delinquencies-rise.html

The Government is Causing a Credit Card Debt Crisis

Credit card debt is nothing to sneeze at. Because of the way it’s structured, it can quickly become exorbitantly expensive.

catalyst.independent.org

Inflation still isn’t letting up, and it’s a top concern for Americans right now. But we just learned of yet another way surging prices are hurting families—leading them into huge amounts of credit card debt.

“More Americans are racking up credit card debt as inflation pushes up the cost of food, utilities and other staples,” CBS News reports. “60% of credit card holders have been carrying balances on their cards for at least a year, up 10% from 2021.”

“59% of Americans who earn less than $50,000 a year carry a credit card balance from month to month,” the reporting notes. “The percentage drops slightly to 49% for those who earn between $50,000 and $80,000 and dips again to 46% for people making $80,000 to $100,000 a year.”

This is a serious problem for many families.

Delinquency rates, on the rise but still historically low

 

[Rambunctious]

Delinquency rates, on the rise but still historically low

View attachment 959772

More Americans are falling behind on their credit card bills.

About 8.9% of credit card balances fell into delinquency over the last year, according to the Federal Reserve Bank of New York — a sign that a growing number of borrowers are feeling the strain of rising prices and high interest rates.

"Everything is more expensive. Debt is more expensive. Rent is more expensive. Food, gas, everything," says Charlie Wise, senior vice president at TransUnion, the credit reporting firm. "Even with relatively healthy wage gains we've seen over last several years, many consumers just aren't keeping up with the price pressures."

 

[Rambunctious]

Delinquency rates, on the rise but still historically low

View attachment 959772

Maxed-out borrowers are a big concern​

The New York Fed's report shows the pain is not evenly spread. While many households are on solid financial footing, almost 1 in 5 cardholders is "maxed out," using at least 90% of their credit card limit. That's worrisome, the report says, because maxed-out borrowers are much more likely to fall behind on their bills.

People under 30 and those who live in low-income neighborhoods were particularly likely to be maxed out, according to the report. Among Generation Z borrowers, about 1 in 6 was close to exhausting their credit, compared with 4.8% of baby boomers.

 

[Crepitus]

People don't have to walk far to walk around the Mall? I guess that's about conserving energy.

cool

Convenience too.

 

[Winco]

It printed trillions of new dollars out of thin air and ran up multi-trillion-dollar deficits on wasteful “stimulus” spending.

President Trump on Sunday signed the government funding and coronavirus relief package, the White House said, averting a government shutdown and delivering economic aid as the pandemic worsens.

Trump signed off on the $2.3 trillion package from his Mar-a-Lago estate in Palm Beach, Fla., days after he expressed displeasure with the spending outlined in the omnibus and complained that the coronavirus relief measure should include direct payments of $2,000 per person, up from $600.

 

[Rambunctious]

Nope. Not true.

Maxed-out borrowers are a big concern​

The New York Fed's report shows the pain is not evenly spread. While many households are on solid financial footing, almost 1 in 5 cardholders is "maxed out," using at least 90% of their credit card limit. That's worrisome, the report says, because maxed-out borrowers are much more likely to fall behind on their bills.

People under 30 and those who live in low-income neighborhoods were particularly likely to be maxed out, according to the report. Among Generation Z borrowers, about 1 in 6 was close to exhausting their credit, compared with 4.8% of baby boomers.

Credit card delinquency rates are rising​

Early in the COVID-19 pandemic, when spending opportunities were limited and the federal government was sending out relief payments, many people paid down their debts, and credit card delinquencies fell to historical lows.

That trend has now reversed itself. Credit card delinquencies have returned to pre-pandemic levels, despite rising wages and a low unemployment rate.

Rising rates of delinquency when both the labor market and the economy are strong are raising concerns at the New York Fed. It's a worrisome trend it will keep an eye on for months to come.

 

[citygator]

Maxed-out borrowers are a big concern​

The New York Fed's report shows the pain is not evenly spread. While many households are on solid financial footing, almost 1 in 5 cardholders is "maxed out," using at least 90% of their credit card limit. That's worrisome, the report says, because maxed-out borrowers are much more likely to fall behind on their bills.

People under 30 and those who live in low-income neighborhoods were particularly likely to be maxed out, according to the report. Among Generation Z borrowers, about 1 in 6 was close to exhausting their credit, compared with 4.8% of baby boomers.

Credit card delinquency rates are rising​

Early in the COVID-19 pandemic, when spending opportunities were limited and the federal government was sending out relief payments, many people paid down their debts, and credit card delinquencies fell to historical lows.

That trend has now reversed itself. Credit card delinquencies have returned to pre-pandemic levels, despite rising wages and a low unemployment rate.

Rising rates of delinquency when both the labor market and the economy are strong are raising concerns at the New York Fed. It's a worrisome trend it will keep an eye on for months to come.

Show me on this graph how I should worry.

 

[Procrustes Stretched]

Jobs report blows past expectations, displaying resilient strength of US economy​

The U.S. economy added 272,000 jobs in May.

Jobs report blows past expectations, displaying resilient strength of US economy

The U.S. economy added 272,000 jobs in May.

abcnews.go.com

 

[crossbody]

As food costs more you buy less of it. You end needing to go buy more sooner. It jut appears as if people are shopping more.

We see how empty the malls are. Even Walmart stores are emptier than usual.

 

[Procrustes Stretched]

I see a trend: Viewed as good news or bad news there is a trend -- Joe!!!!!!!!!!! Joe-4-2024​

​

Joe Biden cuts Donald Trump’s lead on handling of US economy​

FT-Michigan Ross poll also finds Democratic president edging ahead of Republican among older voters

Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach ofFT.com T&Cs and Copyright Policy. Email [email protected] to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found here.
Joe Biden cuts Donald Trump’s lead on handling of US economy

Donald Trump has lost some of his edge over Joe Biden on the economy in a monthly poll of American voters, one of the first signs that months of strong economic data may finally be boosting the president’s re-election prospects.Trump’s lead among registered voters who were asked which of the two candidates they trusted more to handle the economy was just four points in June, down from 11 in February, according to the latest survey conducted for the Financial Times and the University of Michigan’s Ross School of Business.The poll was conducted from May 30 to June 3 — immediately after Trump’s criminal conviction in New York over “hush money” payments made to porn actor Stormy Daniels — and found 41 per cent of registered voters nationwide said they trusted Trump, compared with 37 per cent who put their trust in Biden. Seventeen per cent said they trusted neither.

Joe Biden cuts Donald Trump’s lead on handling of US economy

FT-Michigan Ross poll also finds Democratic president edging ahead of Republican among older voters

www.ft.com

 

[Rambunctious]

President Trump on Sunday signed the government funding and coronavirus relief package, the White House said, averting a government shutdown and delivering economic aid as the pandemic worsens.

Trump signed off on the $2.3 trillion package from his Mar-a-Lago estate in Palm Beach, Fla., days after he expressed displeasure with the spending outlined in the omnibus and complained that the coronavirus relief measure should include direct payments of $2,000 per person, up from $600.

We aren't talking about Trump but if you want to change the subject lets do it...

https://home.treasury.gov/policy-issues/coronavirus/assistance-for-american-families-and-workers/economic-impact-payments#:~:text=Starting%20in%20March%202020%2C%20the,qualifying%20child%20under%20age%2017.

Are you suggesting this wasn't necessary?... when the government takes away your ability to earn a living they must make it up in the end... this may have saved us from who knows what.... Biden's relief wasn't necessary in the slightest and it caused a massive inflationary period we are still stuck in...

 

[HikerGuy83]

Retail: They're struggling to meet with demand. We have great infrastructure things happening (thanx Joe/Kamala), and we have what President GWB told us to do during the trauma of 9/11 -- great shopping! I say America is doing well(thanx Joe/Kamala),. We're just some of us, feeling out of it what with all the doom and gloom coming from some quarters.

great read:
"Shopping center landlords have found themselves in a wholly unfamiliar position: For the first time in 20 years, demand for retail space outstrips supply.

That demand has soared recently and, after years of muted construction and a purge of weak-performing properties, met a retail market with less available space. Properties that survived the purge signed up tenants that would draw more shoppers and give them more reason to linger. That meant more restaurants and venues that promote recreational experiences, like ax throwing and, more recently, pickleball. It also meant less space for traditional retailers that weren’t performing as well, like bookstores and apparel brands.

Because of those moves, “there’s not as much redundancy from tenants, and landlords are creating much more robust tenant mixes,” said Barrie Scardina, president of Americas retail services, agency leasing and alliances for Cushman & Wakefield, a real estate firm. “We are seeing some of the most productive occupancy recorded in the last 10 years.”" --

What Retail Apocalypse? Shopping Centers Are Making a Comeback.​

Vacancy is the lowest it has been in two decades, at 5.4 percent, according to a recent report. The properties are thriving even as retailers like Macy’s and Express shutter many stores.

Fast Food Chains That Are Shutting Down Stores In 2024 - The Takeout

Fast food restaurants often blend into the landscape of a city, until they disappear, that is. Unfortunately, not all of favorite chain spots will weather 2024.

www.thetakeout.com

 

[citygator]

As food costs more you buy less of it. You end needing to go buy more sooner. It jut appears as if people are shopping more.

We see how empty the malls are. Even Walmart stores are emptier than usual.

People don’t eat less numbskull and go shopping more. They trade down to different or less convenient food. Whole chicken vs boneless skinless breasts for instance.

 

[crossbody]

People don’t eat less numbskull and go shopping more. They trade down to different or less convenient food. Whole chicken vs boneless skinless breasts for instance.

I didn't say they ate less. I said they buy less. Mind your manners.

 

[Rambunctious]

Show me on this graph how I should worry.


View attachment 959774

Graphs are not accurate and if you bothered to read my links you wouldn't need to ask me why you should worry you would know why...