Surging retail sales showed resilient consumers, with 9 of 13 categories rising month-over-month. Yahoo Finance’s Josh Schafer reports on this story and weighs in the possibility of the a Fed rate hike in December.
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US consumer credit card debt surpassed $1 trillion for the first time in July, per Federal Reserve Economic Data.
Not sustainable, given the unprecented credit card debt and high interest rates. I am sure that retail sales will weaken slowly and eventually free-fall.
I honestly hope the entire economy collapses. We’re constantly giving away billions of dollars to other countries while 600,000+ homeless in America. We don’t matter anymore – let it collapse!!