We are told over and over and over again that the consumer is in great shape. They’re absorbing all of these price increases like nobody’s business and they keep shopping. And, of course, you know, we’ve had wage gains and people are continuing to ask for more. So don’t worry. It is the consumer that will help us avoid any level of recession because they are in great shape.

CHAPTERS:

0:00 Intro
1:22 P&G Profits Amid Inflation
4:24 Paycheck to Paycheck
6:53 Lack of Retirement
10:00 Consumer loans
12:42 Small Business in Trouble
14:45 US Worker Pay Demand
17:12 Wrap Up

SLIDES FROM VIDEO:

SOURCES:

https://finance.yahoo.com/video/consumer-holding-extremely-well-procter-141222362.html

https://nypost.com/2023/04/21/procter-gamble-profits-from-10-price-hike-amid-inflation/

https://mishtalk.com/economics/fantasy-of-the-day-the-u-s-consumer-is-holding-up-well

More Gen Z Adults Are Living Paycheck to Paycheck in the US – Bloomberg

What US Jobs Pay From Cashiers to CEOs; Salaries Average $47,000 – Bloomberg

https://www.bloomberg.com/news/articles/2023-04-17/how-much-money-do-i-need-to-retire-a-quarter-of-americans-have-no-savings?srnd=premium

https://fred.stlouisfed.org/series/CCLACBW027SBOG

https://www.ocregister.com/2023/04/19/bank-executives-see-no-cracks-even-as-credit-card-write-offs-soar-2/

https://www.bloomberg.com/news/articles/2023-04-06/hiring-plans-for-us-small-businesses-fall-to-lowest-since-2020?sref=rWFqAg1Y

https://www.nerdwallet.com/article/small-business/small-business-statistics

https://www.bloomberg.com/news/articles/2023-04-17/wage-floor-for-us-workers-at-record-76-000-in-ny-fed-survey?srnd=premium

https://fred.stlouisfed.org/series/UMCSENT