Consumer spending is painting a very painful picture ahead

Consumers are starting to buckle as rising gas prices crimp spending and delinquency rates on credit cards reach the highest level in more than a decade.

  • On top of that student loan payments restart this month which will add more strain to the already struggling consumer.

“There is some real concern about weakness in the consumer.” Higher gas prices, in particular, mean “there’s a real spending issue coming up and I think that’s going to impact earnings.”

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