1) Initially
2) Absolutely
3) False. Consumer spending on non durable goods is still rising. Disposable income is still available. Durable goods spending exploded after COVID.
https://wolfstreet.com/2024/08/30/our-drunken-sailors-are-at...
https://wolfstreet.com/2024/08/30/our-drunken-sailors-are-at...
Only for some. Household debt is at an all time high, and evictions and utility disconnections are skyrocketing. Homelessness is at record highs. Hunger in the US is soaring too. 18 million households last year struggled at some point to secure enough food, the worst its been in nearly a decade. Many people are suffering under the outrageous prices companies are charging.
That's because people have more money than ever so they're using credit cards more. It's also partly due to inflation. Household debt-to-income ratios are not high.
> evictions and utility disconnections are skyrocketing
I don't believe this is true.
> Hunger in the US is soaring too.
This is true, but it's because the extended child tax credit from 2020 expired - so we can fix it anytime we want.
The evidence isn't hard to find.
examples:
https://finance.yahoo.com/news/whos-getting-evicted-america-...
https://finance.yahoo.com/news/home-foreclosures-highest-lev...
https://www.npr.org/2023/06/21/1183408490/evictions-are-incr...
https://denverite.com/2024/09/12/denver-eviction-cases-incre...
https://www.azfamily.com/2023/11/02/maricopa-county-breaks-2...
https://apnews.com/article/homelessness-increase-rent-hud-co...
As for utilities things would be even worse except for states working to prevent disconnections during heat waves
https://www.power-grid.com/customer-service/customer-shutoff...
https://cordcuttersnews.com/1-in-5-u-s-households-struggle-t...
https://www.opb.org/article/2024/05/31/oregon-electric-utili...
https://energyjustice.indiana.edu/our-work/_news/20240822-be...