US - Economic Data & News 11 (Oct 22 - Mar 24)

[behappyalways]

Seen another way, US middle-class households spent an average of $8,000 more in 2022 than 2019.

This far exceeds increases in nominal wage growth, which is why so many households that aren't among top earners continue to struggle in this environment.

Suffice it to say, wage growth has been insufficient to support many household's cost of living.

This is one reason why we see increased borrowing, particularly within credit cards — where debt levels recently increased to a record $1T, with the average debtor carrying $5,600 at rates that in some cases are at record highs.

https://twitter.com/Mayhem4Markets/stat ... 0293917698

[behappyalways]

Spending $17.5 billion! The number of homeless people in California increased by 30% instead of decreasing

砸175億美元! 加州無家者不減反增三成｜方念華｜FOCUS全球新聞 20230712@tvbsfocus

https://m.youtube.com/watch?v=F2iDcbsbstk

[behappyalways]

Loophole: Biden Admin Forgives $39 Billion In Student Debt For Over 800,000 Borrowers
https://www.zerohedge.com/political/loo ... -borrowers

[winston]

Americans Have Quietly Deleveraged. It May Explain the Economy’s Resilience.

By Larry Hatheway

From the end of 2007 (the eve of the global financial crisis) to the end of last year, the stock of U.S. household debt, as a percentage of U.S. gross domestic product, has fallen by a quarter, from 101% to 77% of GDP.

Prior to the financial crisis, total U.S. corporate debt securities and loans, as a share of GDP, peaked at 45%. Today that figure is 43%.

Source: Barron's

https://www.barrons.com/articles/americ ... eid=yhoof2

[behappyalways]

20 years of price changes in the US — what stands out most to you?

https://twitter.com/Mayhem4Markets/stat ... 2697417728

[behappyalways]

Interest costs now exceeds Defense Spending

https://twitter.com/biancoresearch/stat ... 2598709249

[behappyalways]

Visualizing America's $20 Trillion Economy By State
https://www.zerohedge.com/economics/vis ... nomy-state

[behappyalways]

US PMIs Scream Stagflation As Services Sector Slumps
https://www.zerohedge.com/personal-fina ... tor-slumps

[behappyalways]

U.S. Department of Justice sues Texas over floating balls built to block immigrants

擋移民浮球築「水上長城」 美司法部起訴德州｜方念華｜FOCUS全球新聞 20230725@tvbsfocus

https://m.youtube.com/watch?v=rl_9zFc7ERQ&t=3s

[winston]

US economy picks up steam

US economic growth unexpectedly picked up steam in the second quarter, boosted by stronger-than-forecast consumer spending and robust business investment.

Gross domestic product rose at a 2.4 percent annualized rate after a 2 percent pace in the previous three months, the Commerce Department's initial estimate showed yesterday.

Consumer spending increased at a 1.6 percent pace after surging at the start of the year.

The US Federal Reserve's preferred underlying inflation metric advanced at a slower-than-expected 3.8 percent pace.

The US economy is in better shape than economists had expected it would be just a few months ago.

While forecasters are split on the odds of a recession, a strong labor market, sturdy consumer spending and now easing inflation have fueled hopes that it will avoid a downturn.

The Fed staff is no longer forecasting a recession, Fed chair Jerome Powell said.

Source: Bloomberg

https://www.thestandard.com.hk/section- ... s-up-steam