Lower-income Americans, notably those earning an income between $25K-$35K, didn’t share this week’s optimism on the bounce in headline consumer confidence

Lower-income Americans, notably those earning an income between $25K-$35K, didn’t share this week’s optimism on the bounce in headline consumer confidence; conf. actually declined. Whereas those earning an income between $100K-$125K, saw the biggest 1M jump since Feb ‘13. pic.twitter.com/CZXNxNj51A

— Julien Bittel, CFA (@BittelJulien) October 1, 2020

Are consumers about to tap out: Savings rate is almost 60% below the pandemic highs, down to 14.1% pic.twitter.com/hi6vDEMnZ1

— zerohedge (@zerohedge) October 1, 2020

#Truth

48% of US landlords are small business owners. t.co/1BxPKFMI2y

— Danielle DiMartino Booth (@DiMartinoBooth) October 1, 2020

It’s a process. Deflationary pressures build alongside permanent joblessness. Serial stimulus spending eventually induces pushback at Treasury auctions despite economy never achieving escape velocity. That gives you the “stag” in stagflation – higher interest rates sans growth. t.co/U3269zynZH

— Danielle DiMartino Booth (@DiMartinoBooth) October 1, 2020