Shoppers are dipping into savings and going into debt. That could cause a holiday hangover | CNN Business

Black Friday and Cyber Monday sales were solid, as Americans were lured by deep discounts. Although consumer spending may be slowing, it remains surprisingly resilient. The problem, however, is that many Americans’ paychecks are not keeping up with stubborn inflation. That has forced consumers to finance their shopping sprees by dipping into savings and tapping increasingly expensive credit cards.

“The recent increase in households drawing on their employer-sponsored retirement accounts … could be a sign of some deterioration in the financial health of the US consumer,” said Fiona Greig, Vanguard’s global head of investor research and policy. ‘Inflation is killing me’ Of course, the pile of savings is not evenly divided. It skews toward the wealthier households.

I remembered you saying inflation was actually a good thing. And let me ask again… a gods thing for

Wait, the dementia ridden sniffer just said wages are increasing faster than inflation. Certainly you aren't calling him a liar are you?

That's called transfer of wealth . It's the destruction of the Middle class, there can only be lower and upper right?

Anybody in the mood for a few stiimulus checks for those who fall below a certain threshold?. At least push the idea and blame the other party if it stalls. You want votes? It's not rocket science.

Uh, maybe they shouldn't engage in shopping sprees?

...and yet Biden keeps telling us how wonderful the economy is and so called new organization like CNN can't find it in their hearts to call him out for such distortions.

Stubborn Inflation,how old do you think is your reader,it's a worldwide intenional created Inflation.

Every citizen needs to adapt to market fluctuations by rationalized adaptation and priorities.They should help the Govt control inflation by not adding to inflationary trends with increased liability of increase of pay.That will result in unmanageable crash unto worser recession!

tis the season to mortgage your christmas presents or call a truce and not buy useless junk this year

LoghmanAzadian, an innocent Iranian who is about being sentenced to death penalty. It is more than two months that Loghman is under media boycott & imprisoned in Iran's prisons that are just worse than what you think. He could be getting executed anytime now. SayTheirNames

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