Ep. 90 - Why Consumer Financial Habits and the PCE Indicate All is NOT Well in the Economy

Wow! We’re seeing surprising trends in credit card debt and worrying shifts in the U.S. savings rate. While the current Administration says, “all is well,” the numbers tell a different story. In this episode, we expose the state of the US economy and how it’s impacting our day-to-day lives. From the Personal Consumption Expenditure (PCE) index to DoorDash services, explore how we can save money and be conscious of the risk posed by relying solely on news outlets and government advice.

Tune in and discover why these key economic performance indicators point towards an unsteady economy we should prepare for. 

[00:01 - 04:10] Exploring the latest inflationary index

[04:11 - 06:55] Administration touts 'Strong Economy' despite limited manufacturing and rising debt

[06:56 - 10:04] Savings rate plummets to an all-time low, showing the economy is not as strong as the administration claims

[10:05 - 14:10] How to combat high prices and start saving more 

Quotes:

"Show me your friends; I'll show you your future—in the circle of five that you hang out with the most… Same thing with the news outlets that you listen to." - Quinton Harris

"Saving for a rainy day is something that many people say just to kind of remind you, ‘Hey, listen, when the dark days are ahead, you want to be glad that you had a savings account—nest egg over here to help make up for that." - Quinton Harris

"A truly strong economy shouldn't just be based on what we're told, but on visible metrics like manufacturing, savings rates, and debt levels." - Quinton Harris

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