Close Menu
    Economy

    Consumers Are ‘Running Out of Money’ and Cutting Back, CEOs Warn


    Consumers Are ‘Running Out of Money’ and Cutting Back, CEOs Warn

    https://www.bloomberg.com/news/articles/2026-05-07/gas-prices-hit-record-high-hurting-consumer-spending-ceos-warn?accessToken=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJzb3VyY2UiOiJTdWJzY3JpYmVyR2lmdGVkQXJ0aWNsZSIsImlhdCI6MTc3ODE3NTU1MCwiZXhwIjoxNzc4NzgwMzUwLCJhcnRpY2xlSWQiOiJURU80WDZLR0NUTEYwMCIsImJjb25uZWN0SWQiOiI1OTFDMkExNEFGMDQ0RUZCODlCNEEwNUM5QkUwQjczRSJ9.pct7G9J-tkWlGKxtQivgevvC4sMXOIXQlRkEpoplBOg

    Posted by dabirds1994

    5 Comments

    1. Zeon2 on

      Bessent says it’s great that Americans are spending money they don’t have. Shows that the economy is growing.

    3. ensui67 on

      This is talking about low income customers. Unfortunately, the lower third of the US accounts for less than 7% of S&P earnings. They will not have much of an impact on the economy because they lack the money to make an impact.

      Meanwhile, the upper third is spending like there’s no tomorrow, because for them, there may not be tomorrow. They’re older, their wealth is growing exponentially and they are not impacted much by oil prices, supply chain inflation or jobs as they are retired. Reports from delta, Walmart, Costco, Bank of America and JPmorgan are showing the same thing. An incredibly resilient consumer where it matters. Therefore earnings have skyrocketed. The upper K is all of us. Unfortunately, it’s us when we’re old and not enough time to spend it. Oh the irony.

    4. a_little_hazel_nuts on

      Huh, so billionaires are not customers. Well I guess businesses that rely on extra income are ganna have to close, since extra income doesn’t exist when half the nation makes $25/hour or less.

    Leave A Reply