Citi card spending: "March to date is down 8.9% and is on pace to be the weakest month since April 2022. Ex-Food spending decreased 13.7% vs -13.0% in March"
"These past two weeks of deceleration reflect spending pressure potentially stemming from disruption within the financial sector, unfavorable weather, SNAP benefit reduction and/or lower tax rebates"
@zerohedge Is there possibly a key word missing from that quote? Something like “declines” following “spending pressure”? It’s not clicking for me as written.
@zerohedge If there was a tax refund/rebate, most folks are likely saving it against hard times they feel are coming.
@zerohedge And most Citi cards give interest free installments. Damn
@zerohedge If your snap gets cut, should credit spending go up?
@zerohedge Spending is about to hit a brick wall. No more $200k motor homes and boats. No more $150k swimming pools etc… it’s coming
@zerohedge Bring troops home, invest the money into better paying jobs and benefits, productivity goes up, competitiveness goes up on world stage.
@zerohedge Ah - don’t forget the climate crisis, Putin and coriolis….
@zerohedge That’s yours I em words or your research 🧐