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%.