How is the American consumer spending more money over the last year despite inflation outpacing their wages for 20 consecutive months?

They're saving less (savings rate at lowest level since 2005) and borrowing more (consumer credit increasing at fastest pace since 2011). pic.twitter.com/TGxu980SYP

— Charlie Bilello (@charliebilello) December 7, 2022

10. Of course, one issue for earnings will be a potential recession in Europe (and the rest of the world for that matter)

h/t @skhanniche via @RollinFrederic pic.twitter.com/Ia4OH36Jc4

— Callum Thomas (@Callum_Thomas) December 7, 2022