This was 14 years in the making. Companies, like most of the population believed credit would be cheap forever. Fed Presidents dating back to Greenspan saw this happening, but failed to prepare. The drive to beat quarterly expectations and satisfy the shareholders blinds these companies. SMH
I agree, people cashed out and refinanced every couple years in order to buy more things.
@burrheadd buys those gigantic jars of mayo there. Not sure why?
Hair tonic
apnews.com
But then, retailers come out 2 hours later and say they have a glut of inventory to liquidate. Target announced they will have to slash prices to make room for excess merchandise. Does anyone have a clue?Treasury Secretary Yellen expects inflation to 'remain high'
Treasury Secretary Janet Yellen has acknowledged that she and Federal Reserve Chair Jerome Powell “could have used a better word” than transitory when describing the expected run of inflation in the U.S. economy.
People are running out of expendable cash
www.newsnationnow.com
Ship is sinkingPeople are running out of expendable cash
Credit card debt has risen significantly this year.
US credit card debt jumps by 14% as inflation stays high
As inflation continues to reach record levels, many Americans are putting normal monthly expenses on their credit cards.
People were running out of disposable income.
Ha Ha
Not everyone is fortunate to get a raise.
It's definitely coming, hopefully it's only a recession....
A poll just came out, 35% think we’re heading to another Great Depression
The people that have been living beyond their means her and get exposed real fast
They will get bailouts like the central pension fund.
Inflation is already too high now you can't deflate the dollar anymore, can you?
That bailout won’t last as long as they thought.
