Consumer spending is poised to take a nose dive.

• Outstanding consumer credit has expanded to approximately $911 Billion at a time when credit card interest rates are approaching 17% and likely to go higher (see chart below, click the caption link to expand the chart).

• As the Federal Reserve lifts interest rates and pushes the unemployment rate higher, credit delinquencies are likely to climb and consumer spending will fall. We have already seen cracks across Retail and Consumer Tech.

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• Asset Management
• Automotive
• Economy
• Financial Services
• Investing