American Economics Thread

[Sinnavuuty]

American Dream!!!

Part 47:

According to a recent AP survey, the cost of groceries is a “source of stress” for 86% of U.S. adults…

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Does your run to the supermarket cause a spike in your blood pressure? You're in good company.

The overwhelming majority of Americans – 86% – say the cost of groceries is at least a minor source of stress. The number includes 53% who say it’s a major source of anxiety in their lives right now. That’s according to a new Associated Press/NORC poll.

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Someone made a compilation of some of the best videos where people really freak out emotionally...

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At a supermarket in Chicago, a woman admitted that it feels like "you're spending your soul on groceries"...

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At a South Loop grocery store, customers experience sticker shock and frustration.

"No matter if it's organic or if it's regular, it's still going to be an arm and a leg for it. It's like you're spending your soul on groceries," said shopper Tria Hutson.

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Thanks to the 50% tariff imposed on imports from Brazil, coffee is about to get a lot more expensive…

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The U.S. relies heavily on Brazil to import coffee for the 165 million people who need their daily caffeine fix, but Trump's 50 percent tariff threatens the long-term availability and price of the drink.

“When people go to their local coffee shop, whether it’s Starbucks or something else, by and large they will likely be buying some form of Brazilian coffee,” Monica de Bolle, senior fellow at the Peterson Institute for International Economics, told NPR.

“A 50 percent tariff will kill that market.”

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62% of Gen Z Americans have no savings for emergencies…

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62% of Gen Z have no emergency savings, nearly double the rate of baby boomers.
51% of Americans would use a credit card for a $500 emergency, with usage jumping to 70% among students.
Two-thirds of consumers have six months or less in savings, with Gen X the least prepared.
76% lack a credit card set aside for emergencies, relying instead on everyday-use cards.

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So restaurants across the country find themselves torn between rapidly rising costs and customers who now have much less money to spend...

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Ike’s Chili in Tulsa, Oklahoma, has been around for 117 years, surviving a myriad of challenges like the Great Depression, the Covid-19 pandemic and a once-in-a-generation burst of inflation. But 2025 already holds an even more complicated challenge.

“The cost of everything’s just going up, and we’ve got to figure out how to manage it right,” Len Wade, a managing partner at the restaurant, told CNN.

He pointed to surging beef prices as an example, specifically hamburger meat at the wholesale level. In July, those prices were up nearly 21% compared to the same month 10 years ago, federal data shows. And passing the buck to customers might not be the best solution, Wade said.

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Las Vegas is receiving much less tourist traffic than before, and those who do arrive are tipping much less...

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Las Vegas servers say they're feeling the heat as high prices and declining tourism hammer their tip earnings across the Strip.

Tipping in Sin City is reportedly down by as much as 50% among servers, as some of them blame the economy and politics while others point to high prices, a tipping backlash, and poor service.

On Reddit's r/VegasLocals forum, one cocktail waitress wrote, "I used to average about 80 cents a drink. Now I'm averaging about 10 cents."

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Microsoft has carried out several rounds of layoffs. To date, the total number of dismissed employees has surpassed the 15,000 mark…

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Microsoft has laid off over 15,000 people so far in 2025. The stress of the belt-tightening has reached CEO Satya Nadella.

“Before anything else, I want to speak to what’s been weighing heavily on me, and what I know many of you are thinking about: the recent job eliminations,” Nadella wrote in a memo to employees Thursday.

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According to Fox Business, “nearly 10% of credit card balances held by Americans ages 18 to 29 were past due for 90 or more days in the second quarter”…

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Young Americans continued to make up the largest share of those transitioning into credit card delinquency in the second quarter, according to a report released by the New York Federal Reserve.

Despite ticking down slightly from the previous quarter, the report showed that nearly 10% of credit card balances held by Americans aged 18-29 became 90 or more days overdue in the second quarter.

New York Fed researchers said credit card delinquency rates for Americans under 40 have been “unusually elevated,” adding they are keeping a “close eye” on the trend.

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A recent survey found that more than 60% of all Americans believe that “it has become more difficult to find a high-paying job”…

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According to the poll, more than six out of 10 Americans said it had become more difficult to find a good paying job, buy a home and afford childcare.

More than four out of five Americans, 83%, said they were concerned about the cost of groceries, with 46% saying they were very concerned. Some 47% said they were worried about being able to pay their rent or mortgage, 64% said they were worried about affording an unexpected medical expense.

 

[siegecrossbow]

Las Vegas is receiving much less tourist traffic than before, and those who do arrive are tipping much less...

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Once Fallout Season 2 is out maybe we will see slight up tick in Vegas adjacent tourism from millennials.

 

[Sinnavuuty]

American Dream!!!

Part 48:

We learned that the producer price index rose 0.9% last month. This was the biggest increase we've seen since June 2022…

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The producer price index, which measures final demand goods and services prices, jumped 0.9% on the month, compared with the Dow Jones estimate for a 0.2% gain. It was the biggest monthly increase since June 2022.

Excluding food and energy prices, core PPI rose 0.9% against the forecast for 0.3%. Excluding food, energy, and trade services, the index was up 0.6%, the biggest gain since March 2022.

So what would happen if the producer price index increased 0.9% each month for the next 12 months? That would put us at an annual rate of 10.8%, and we'd officially be in Jimmy Carter territory.
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Right now, electricity prices are skyrocketing from coast to coast. For example, New Jersey residents have been hit with price increases of between 17% and 20%...

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New Jersey residents are up in arms over huge spikes in their energy costs, leading to speculation it could prove fatal for Democrats.

The New Jersey Board of Public Utilities (BPU) approved a 17-20 percent hike in June for the majority of households in The Garden State. ---

A local woman says her electric bill is now $200 higher than it used to be...

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“$200 more, I know my electrical bill,” one woman told Cotton in Rutherford, N.J., on Tuesday. "I was shocked. So to say the least, I'm very disappointed. This is killing us, and every time you turn around it's something more. You only get little pleasures in life that you enjoy, and my air conditioner is one of them."

New Jersey’s electric bills currently rank 12th highest in the nation, according to the Wall Street Journal, with prices sitting roughly 15 percent higher than the national average.

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Beef has also become a luxury item, and there are reports that last month the price of beef reached yet another new all-time high…

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Beef prices surged to an all-time high in July as the market grappled with consistently strong demand and long-term issues in domestic production.

According to the latest consumer price index, which the Bureau of Labor Statistics published on Tuesday, the beef and veal index rose by 2.5 percent in July, compared to 0.2 percent for the broader food category. This capped an 11.3 percent increase over the past 12 months.

Meanwhile, the price of ground beef and uncooked beef steaks has risen by 11.5 and 12.4 percent, respectively, both now at record levels.

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The other day, a Twitter user known as “Molly Ploofkins” posted a truly alarming photo she took at her local Publix…

https://twitter.com/i/web/status/1954765469296308455

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Speaking of rising costs, millions of Americans are about to see much higher health insurance premiums…

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A perfect storm of rising health care costs, expensive new drugs, and the scheduled end of enhanced federal subsidies could drive Obamacare’s Affordable Care Act (ACA) Marketplace premiums to their steepest levels in years—and hit more than 24 million Americans in their wallets.

According to a new analysis of insurers’ 2026 filings by Peterson-KFF’s Health System Tracker, the median proposed premium hike across 312 marketplace insurers is 18%. Most increases range from 12% to 27%, with more than 125 insurers seeking hikes of 20% or more—the sharpest climb since 2018. Final rates will be locked in by late summer 2025.

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In Clark County, Nevada, there was a 32% increase in foreclosure notices in just 12 months…

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Growing numbers of Las Vegas homeowners are falling into foreclosure as soaring prices and Trump boycotts decimate the city, a new report found.

In Clark County, 200 default notices were filed in June, an increase of 32 percent from the same month last year, a research report from the University of Nevada’s Lied Center for Real Estate found.

Default notices are filed after a property owner falls behind on their mortgage payments and indicates the start of the foreclosure process.

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The cost of vegetables in the United States increased by 38.9 percent in one month...

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A 38.9% increase in prices for fresh and dry vegetables from June to July was the major driver of a higher index for “final demand goods” (things that are done and ready to be sold to a consumer, as opposed to things that go into a later production process).

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Coffee prices rose 25% in just three months, and that was before Brazilian coffee exports were hit with a 50% tariff...

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Coffee prices were already up before a 50 percent tariff on Brazil, the top coffee importer to the U.S., went into effect last week.
Coffee prices sharply rose 25 percent over the past three months, according to inflation data released Tuesday. Reuters reported Tuesday that Brazilian coffee exports have started seeing postponements to their U.S. shipments.

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Electricity prices are rising twice as fast as the general rate of inflation, and some seniors now have to choose between paying their electric bill and paying for their medications...

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Across the country, electricity prices have jumped more than twice as fast as the overall cost of living in the last year. That's especially painful during the dog days of summer, when air conditioners are working overtime.

In Pembroke Pines, Fla., Al Salvi's power bill can reach $500 a month.

“There are a lot of seniors down here who are living check to check. They can barely afford prescriptions such as myself,” says Salvi, who's 63 and uses a wheelchair. “Now we got to decide whether we’re going to pay the electric bill or are we going to buy medication. And it’s not fair to us. You’re squeezing us between a rock and a hard place.”

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At this stage, 83 percent of all Americans are experiencing “inflationary stress”…

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A LifeStance Health survey released today reveals “stressflation” is affecting most Americans, with 83% reporting financial stress driven by inflation, mass layoffs, the rising cost of living and recession fears. Millennials and Gen Z report the most significant mental health impacts.

The number of respondents who have been deterred from seeking mental health care due to financial constraints remains consistently high (60%), increasing two percentage points from 2024. Those experiencing high financial stress levels are more than twice as likely to force mental health treatment due to cost, highlighting a mental health gap where financial strain exacerbates mental health challenges while limiting access to care.

 

[Sinnavuuty]

American Dream!!!

Part 49:

A recent college graduate told NBC News that almost all of his friends are unemployed and living with their parents...

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Sean Breen, who graduated this spring with a communications degree from California State University, Long Beach, said he and nearly all of his high school friends, both men and women, are back home living with their parents and unemployed. He said even those who went to top-ranked colleges and got seemingly in-demand degrees are unable to find work.

“It's like a high school reunion,” Breen said. “We’re all, we are back in Marin County this summer, all unemployed, all trying to find a barista job, a part-time something, because we haven’t found anything.”

After having applied to hundreds of jobs, he said, Breen now plans to go to graduate school in the fall at Trinity College in Ireland, where tuition is significantly lower and, he hopes, jobs will be more plentiful.

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The job market is freezing and layoffs have skyrocketed compared to last year…

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Layoffs have risen 140 percent from a year ago, a new report reveals.

Companies have already announced more than 800,000 job cuts this year alone, the highest since the pandemic upended the economy in 2020.

US-based employers cut 62,075 jobs in July compared to 25,885 in the same month last year.

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62% of US consumers believe unemployment will continue to worsen in the coming months…

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About 62% of consumers believe unemployment will worsen in the year ahead, according to the University of Michigan’s latest monthly survey.
That’s bounced around a little in the last few months, but consistently hung around levels not seen since the Great Recession.

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According to the USDA, a realistic monthly food budget for a family of four ranges from $996 to $1,603…

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The USDA estimates $297–558 for a monthly food budget for one person, $614–963 for a couple, and $996–1,603 for a family of four.

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Health insurance is another major expense American families face monthly. In 2023, an unsubsidized plan for a family of four through the ACA marketplace cost an average of $1,437 per month…

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Family plan premium rates will vary based on family size. But, a family of four paid an average of $1,437 a month for an unsubsidized plan.

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According to Experian, the average monthly payment for a new vehicle during the first quarter of 2025 was $745…

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In Q1 2025, the average car payment for a new car was $745, and the average payment for a used car was $521. However, monthly payments can vary significantly based on many factors, including the loan amount, loan term, borrower credit history and more.

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It goes without saying that a family of four also needs a place to live, and the median monthly mortgage payment in the United States has now risen to $2,259…

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The median monthly mortgage payment for U.S. homebuyers is currently $2,259. This assumes a buyer making a 20 percent down payment on a $435,300 home—the median sale price for an existing home in June, according to the National Association of Realtors—at 6.75 percent interest, the current average for a 30-year loan based on Bankrate data.

If we add up all four of our monthly expenses, we get a total of $5,437 per month.
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For example, 44% of American adults reportedly admit to ordering a kids' meal…

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Apparently, grown-ups love a good kiddie meal, too.

That's one of the takeaways from a new survey conducted by Lightspeed Commerce, a company that provides payment systems to the hospitality industry. The survey found that 44% of U.S. diners say they've ordered children's meals for themselves at restaurants.

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We were told that the number of children's meals ordered by adults increased 28% compared to 2019…

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According to industry research firm Circana, the number of children’s meals placed by adults was up 28% in 2024 compared with 2019. Another data point, as the Wall Street Journal reports, is that Yelp reviews for kids’ meals were higher in December 2024 than any month since 2019.

“It’s satisfying, cheaper, less calories, and sometimes there’s a little prize or treat,” C.J. Person, a retired teacher in North Carolina, told the Journal.

Are adults technically allowed to order kids’ meals? Probably not. Most restaurants have an age limit policy, but they are rarely enforced.

 

[GodRektsNoobs]

Part 49:

A recent college graduate told NBC News that almost all of his friends are unemployed and living with their parents...

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The job market is freezing and layoffs have skyrocketed compared to last year…

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----
62% of US consumers believe unemployment will continue to worsen in the coming months…

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---
According to the USDA, a realistic monthly food budget for a family of four ranges from $996 to $1,603…

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---
Health insurance is another major expense American families face monthly. In 2023, an unsubsidized plan for a family of four through the ACA marketplace cost an average of $1,437 per month…

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---
According to Experian, the average monthly payment for a new vehicle during the first quarter of 2025 was $745…

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It goes without saying that a family of four also needs a place to live, and the median monthly mortgage payment in the United States has now risen to $2,259…

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If we add up all four of our monthly expenses, we get a total of $5,437 per month.
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For example, 44% of American adults reportedly admit to ordering a kids' meal…

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We were told that the number of children's meals ordered by adults increased 28% compared to 2019…

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Just curious, are you chronicling something, perhaps for a research project? I appreciate your list of evidences and resources.

 

[MortyandRick]

Yeah, there were alot of companies that should’ve gone bankrupt (which is either a court ordered renegotiation of debts or a court ordered sale of assets) from 2020-2022 when money was free but they didn’t go bankrupt because they were able to service their debts and banks extended and pretended (as well as in 2020, the glacial pace at which federal courts resolved bankruptcy claims)

Once interest rates went up in 2022, it then became a ticking time bomb for high liquidity, high leverage companies and it’s now been a slow burn to that effect.

Still corporate bankruptcies are higher now than 2010. no matter how you cope, it's not good news for the US economy.

 

[Fertorstar]

Still corporate bankruptcies are higher now than 2010. no matter how you cope, it's not good news for the US economy.

It’s entirely ambiguous to the economy - it simply reflects pandemic-era oddness

 

[MortyandRick]

It’s entirely ambiguous to the economy - it simply reflects pandemic-era oddness

No. Pandemic was 5 years ago and bankruptcy numbered were much better in 2022 to 2024. Can't blame pandemic for that long.

That's just your cope in trying to downplay the fact that corporate bankruptcies are increasing, highest since 2010. Shows weakness in the US economy.

 

[Fertorstar]

No. Pandemic was 5 years ago and bankruptcy numbered were much better in 2022 to 2024. Can't blame pandemic for that long.

That's just your cope in trying to downplay the fact that corporate bankruptcies are increasing, highest since 2010. Shows weakness in the US economy.

They weren’t “much” better and liquidity buffers take a while to run, see the always and forever impending “CRE crisis”.

 

[MortyandRick]

They weren’t “much” better and liquidity buffers take a while to run, see the always and forever impending “CRE crisis”.

Still bankruptcies are increasing no matter how you look at it. That's objective evidence. Still higher than the last few years. If the last few years aren't "much" better than that means the last few years were also weak and it's getting weaker