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Jason
@jachian
Stock market is down after Walmart reported earnings. Specifically on their lower outlook for this quarter. Quote from the CNBC article “If Walmart is giving bad guidance, you should be paying attention to it,” said Tom Fitzpatrick, managing director at R.J. O’Brien and Associates. “Perhaps this is suggesting that the general consumer is tapped out.” Still confirms to me that a mild recession is coming (or here already), but will have to see more economic data come in https://www.cnbc.com/2025/02/19/stock-market-today-live-updates.html
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keccers
@keccers.eth
In a recent Marketplace ep - i can grab it if you like -- i learned that 40% of consumer spend is driven by 20% of Americans. It masks a lot of pain. This suggests to me softness is coming to that top 20.
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Jason
@jachian
I’d love it. This just one data point. I’ve been following since restaurant earnings last year were saying that the low end consumer isn’t really eating out either Government job cuts and big tech layoffs are still relatively fresh and haven’t been priced in yet
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keccers
@keccers.eth
this one https://www.marketplace.org/shows/marketplace/buy-in-bulk-and-on-credit/
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Jason
@jachian
Sweet! Bookmarked. I’m still taking notes like mad from conference livestreams
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keccers
@keccers.eth
lol. This stat really stood out to me and I sent it to friends and dug up the transcripts all this
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Jason
@jachian
That and service jobs make up an absurd percent of US jobs Thing I’m looking out for is the consumer that eats out all the time having to penny pinch and stay in causing restaurants needing to cut back on wait staff Big drop in consumer spend causing big drop in unemployment
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