so...consumer spending is undergoing "shifts" and executives are worried about where "shopping habits" are headed...one shouldn't wonder at their worry...a lot is at stake here...for more than afew...
"rising credit card delinquencies" are surely worrying for the likes of jeff gennette ( who pulled in $1000000 a month in 2021...last figures i can find )...his card has an apr of 31.74% last i looked...no wonder there are delinquencies...the national political agenda is as much widespread debt for consumers as is possible...however that is a fairly risky business model to follow ( they all seem to have forgotten about 2008...i haven't...you shouldn't either...their untrammeled greed will render them delusional, if not stupid )...yes jeff they have "aggresivvely pulled back" discretionary spending and reallocated ( or, possibly, misallocated in your world view ) the cash to things like food and shelter as opposed to polo underwear...capitalism has a problem with recognizing limits and their economist allies [ theologians of greed ] are prone to dismiss them as "externalities"...nothing to worry about because it fucks up the symmetry of their bogus calculations ( "artifice worthy of the casuistry of a jesuit" )...so with conumers "aggressively pulling back", delinquencies that could become defaults, and a looming overstock of grossly overpriced "vital consumer goods" coupled with a holiday season where shopers may fail to "go big" ( i, for one, will tell peole, yet again, that i do not desire anything in the way of material goods for christmas...and, again, will be ignored..."and mercilessly we go on giving"...i am quoting germans left and right here ) they have ample reason to worry and, near as i can discern, deservedly so...a minimalist christmas...ho ho ho...santa isn't going to like that idea.
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