from Kerry Lutz's Financial Survival Network
Russell Stone is back. On the slate in this installment… The consumer resilience that is reflected in some of the data that is meaningful doesn’t line up with what I see in person with conversations while traveling to main street America. The consumer is just starting to feel the reality as the cost of inflation and higher interest rates is hitting home. The dwindling savings of both the consumer and commercial savings accounts is seen in the data but is just starting to be felt. The Fed can’t be the buyer of last resort of al unsold treasuries very much longer. January/ February of 2024 should be interesting for all involved. Expect the consumer confidence to begin a sharp reversal beginning in late December and accelerating through the first quarter as the data lines up with the markets and reality.
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