Financial guru Suze Orman thinks that most consumers are, or soon will be, facing dire straits, in an environment of higher interest rates, higher inflation and elevated volatility in stocks and bonds.
Kristi... Financial guru Suze Orman thinks that most consumers are, or soon will be, facing dire straits, in an environment of higher interest rates, higher inflation and elevated volatility in stocks and bonds.
“Households are spending more, not as much because they want to, but because they have to with increased costs for essential items,” she was quoted as saying by MarketWatch’s Quentin Fottrell.Indeed, personal savings rates have plunged, down around 2.4% from a pandemic peak of 33%, according to the most recent data available from the U.S. Bureau of Economic Analysis.
According to rating agency Fitch, for the lowest-income consumers, the rate of loan defaults now exceeds 2019’s numbers. Data from Cox Automotive shows that delinquencies for subprime borrowers, those viewed as the least creditworthy, were at 7.11% last month, marking the highest rate of delinquencies since 2006.
She wish....the feds data show different from a racist ass survey!!!
Not only do they have no $$. Everything they know has been turned upside down due to Covid. For many ppl in power it was performative & they could jet off to private islands but many forced to live thru it are TRAUMATIZED. Laid off from Jobs. In debt. It’s a horrible situation.
That’s because the people that make this country run like farmers and tradespeople are underpaid compared to people like Susie Orman, who contributes little to no actual value but rather sells an idea or a program with a near 0 marginal cost to unsuspecting victims.
Eggs and Rent
Skeptical she sold all her positions and paid capital gains tax then moved 80% into bonds. Proofs in the pudding show us the sell.
If the answer isn't 'rent,' most of Americans won't give a shit.