American Consumers Hit a Wall

The American consumer is giving up. Tapped. Out of cash.

So says Bloomberg in a recent article called "Key engines of US consumer are losing steam all at once."

In short, consumer spending over the past year has been propped up by 3 things: incomes, savings, and debt.

All are now out of runway.

Incomes

For the past year, real incomes had been beating inflati…