Sunday, February 11, 2024
'YOLO spenders' have created a 'super-duper' credit bubble in the US economy, top economist David Rosenberg says
Today's consumers — or rather, "YOLO spenders" — have taken on a massive amount of debt, top economist David Rosenberg said. And it's created a big bubble in a pocket of the US economy. US households today have a savings rate of just 3.7% — way below the historical levels of 9%.
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