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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Elon Musk is on the verge of losing his world's richest person title | CNN BusinessElon Musk is on the verge of losing his status as the world's richest person, at least according to one metric. I think Elon will be fine :P And I just sharted in celebration. This is a systemic crime
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Twitter's makeshift hotel rooms show just how broken US work culture is | CNN BusinessAmerican work culture is having an identity crisis. Are we a riseandgrind people or are we QuietQuitting? Are we, as Elon Musk and Sam Bankman-Fried have modeled, going so 'extremely hardcore' that we're willing to sleep at the office? Or are we evolving, recognizing the toxicity of hustle culture and finally setting boundaries? twitter is non of your business Can you say burnouts? It's one crappy company pushing its employees. Let's not go all Marx and Engels.
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Former Theranos COO sentenced to nearly 13 years | CNN BusinessRamesh 'Sunny' Balwani, the former chief operating officer of failed blood testing startup Theranos, was sentenced Wednesday to nearly 13 years in prison for fraud. It marks an end to the stunning downfall of a high-flying Silicon Valley company that resulted in the rare convictions of two tech executives. Good, this was a very cruel thing to do. sexism racism Indian male gets harsher sentence than the blonde woman CEO Sonny should’ve donated to the Democrats before the midterms!
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Apple plans to expand encryption of iCloud data | CNN BusinessApple on Wednesday said it plans to expand end-to-end encryption of iCloud data to include backups, photos, notes, chat histories and other services, in a move that could further protect user data but also add to tensions with law enforcement around the world. Apple is doing some ass kissing bringing production back to the States. But it is a good thing 👍 As it should be .
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