Consumers More Resilient Than Anticipated -- Big Banks -- July 18, 2023

Locator: 45159INV.

This is just a snapshot in time; it may change tomorrow.

But.

But.

But.

Remember all that hand-wringing that Americans were starting to run out of that money they had saved during the Covid-19 lock down?

It looks like consumers are more resilient than experts predicted or imagined. If I recall correctly, two-thirds of consumer spending makes up US GDP. Fact-check me on that. 

Well, add that to all that recession talk and move "running out of money" to the right.

You know, there is a story out there that wages are also showing increases over the past year. As just one example: United Airlines pilots -- a 40% increase in pay over over four years. Not trivial.

It's not as if Americans aren't still making money. In fact, a lot of Americans -- albeit, probably a small percent, have their money in securities paying four percent or better.