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J.P Morgan Warns About The “State” of the American Consumer

Mac Slavo
October 11th, 2019
SHTFplan.com
Comments (10)

J.P. Morgan has taken to issuing warnings over the mental state and overall health of the American consumer’s habits. As a nation, we are deeply indebted to consumerism and that’s what is currently keeping the fragile economy afloat.

With the manufacturing industry already officially in a recession, the Institute of Supply Management purchasing manager index was registering a reading of 47.8 (anything over 50 indicated growth) for September, the worst reading since 2009 the news seems bleak even for the consumerism that’s fueling this debt-based economy.  The U.S. and the Chinese trade war is also degrading business confidence, causing management teams to pull back on spending. That leaves consumers to carry the economic water – and many are tapped out; no longer able to take on any more debt in order to keep things afloat.

J.P. Morgan consumer-finance analyst Richard Shane sees this as bad news for the stocks he covers, according to Barron’s. On Tuesday morning, Shane cut his target prices on every single stock he covers—including names like American Express and Capital One Financial—by an average of almost 10%. What’s more, he downgraded shares of auto lender Ally Financial.

Shane is seeing some visible cracks in this “booming” economy and it’s time to be aware of them, “While the sector should continue to enjoy solid fundamentals through year-end, our outlook headed into 2020 becomes more cautious,” Shane wrote in a research report. “Specifically, the prospects of a slowing economy, indications of pockets of labor weakness and heightened political uncertainty all may weigh on the group.”

Investors so far, appear to be aware of the risks in the markets going into 2020.  Consumers, on the other hand, appear to have hardly noticed any of the red flags appearing right in front of them. After all, total household debt rose to $13.9 trillion in the second quarter, its 20th consecutive quarter of growth, according to Shane. Most consumer debt is housing-related, but borrowers also have $1.3 trillion in car loans. $0.8 trillion in credit-card debt, and $1.5 trillion in student debt.

Shane doesn’t see the bottom falling out of the economy. He doesn’t think it’s time to panic just yet because while consumer debt loads are at record highs, debt as a percentage of household wealth isn’t, he points out.

But the red flags are still there. Consumerism is being fueled by a strong job market.  Should that go sightly the wrong way, things could get ugly, quickly.

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Author: Mac Slavo
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Date: October 11th, 2019
Website: www.SHTFplan.com

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10 Comments...

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  1. Anonymous says:

    We have big trouble coming. Time is just about up. Don’t take any trips anywhere. Gather all the supplies you can. Things could start to spin out of control within a week. It’s all going to freeze up, and not just the weather. That’s why the rush on impeachment. Martial law is coming, and they are fighting for position. Banking losses are about to go exponential. That’s why the Marines were put on hot standby! At the rate at which liquidity injections are increasing, I give it about 2-3 weeks until the collapse of the current financial system. In only the next five days, they will 20 trillion to keep the banks from collapsing. I’m sorry. I thought there would be more time. Do what you can to save yourself. Good luck.

  2. Billy Jack Galt says:

    “They just won’t keep getting into more and more debt to buy our junk…….”

  3. Cover your ass ryvtx. Ryvnx. Ryidx. Rycmx. Google them then look at price for past crashes. No need for a shit load just some for whats to come soon.

  4. Bill says:

    There are interesting on-line articles about varieties of groups in the US that contribute little to the economy and little to the tax base of various levels of gov’t. They include preppers, off-grid people, and agrarian communities. Then there are millions of millennials who live at home with parents, who have low paying jobs or no job at all. There are also millions of able-bodied men who no longer desire to work full-time jobs, or marry or have families. Growing numbers of men in every part of the US are satisfied with low-paying jobs who don’t care about buying a house or a new vehicle. They are saying screw it – society, marriage and the rat race are not worth it, they have nothing to offer men anymore.
    It has been pointed out that though they may not contribute much to the economy or tax base they also generally do not require gov’t assistance. Another thing all these groups have in common are they have extremely low numbers of children, far below replacement rate. As a result, at least 50 % of all counties in the US has experienced a drop in white population in the last twenty years, from only slightly to large. Many rural towns and counties across the US are no longer economically feasible to maintain local businesses, or keep doctors and other professionals. School systems that once thrived are closing.
    Unlike the millions and millions of the welfare class, typically urban, who totally depend on gov’t (at a cost that is becoming unsustainable) for every aspect of their lives like food, housing, medical, dental, public education, even cell phones and internet and vehicles, and other items; with very high numbers of children well above replacement level. (There’s no doubt when the gov’t debt goes pop, and gov’t budget is wrecked, and the welfare state cannot be sustained any longer, we will see civil chaos).
    Studies show though most adult women work, the majority of them also want to marry and have children, the trend is the opposite for men, and the disparity is becoming more acute each year. A study of MGTOW shows that the movement is steadily growing. Women have more rights and special privileges, men are losing them. The law and courts default in the vast majority for women and against men. And Amer. women are being taught to devalue men. So men are saying forget it, they’ll just keep their money and their freedom. Where I live, there was a local newspaper article on the high level of single people. Local women are complaining they cannot find marriageable men. A few years ago I took my own private demographic study at work. Out of 22 men I work with, only 9 are or were married, their average age is about 45, with incomes well above national average. They tell me they don’t want marriage or families.

  5. TharSheBlows says:

    I suggest you transfer all of your Asset Titles into a Family Trust, like your property and autos. Also exchange all of your Cash Assets into PM’s Like Physical Silver or Gold. Keep each transaction into PM’s under $10K.

    Then, I suggest go out and apply for the largest credit line you can on a JP Morgan Credit Card or other predator banks, Then pay all your “secured debts” off, like your auto loans off, and mortgages with this new JP Morgan Credit Unsecured Credit Card, then make a few monthly payments on the JPM Credit Card until you secure all your car titles and ownership to your lands, then transfers the title to your wife, or another family member with no credit problems, then Stop paying on that JP Morgan Credit card all together, and then say F-YOU to JP Morgan. Not much JP Morgan can do to get their money back, Because all of your assets disappeared. You have a pile of Silver of Gold buried someplace safe in various spots. Never put all your eggs in one basket. When they come after you just file for bankruptcy. Your bankruptcy will look like this: Liabilities= JP Morgan CC $50K default. Assets= $0.

    That’s how you strategically default, and not loose a single asset in the Transaction. F- the Banks!!

    Any and all debt I have, are on Unsecured Credit Cards. Everything else I hold the Title to, including the year supply of food and liberty tools, property etc. I cant wait for a Grid Crash. They will have bigger unprepared debtors to go after besides you. Go Buy an RV and hit the road to another State with more favorable Bankruptcy laws if they do find you.

  6. TharSheBlows says:

    Why are none of my post posting right away anymore? Look at the number of posts on each article. Zero. MAC you have a posting problem again with your website.

  7. Thomas Lash says:

    I think the Government needs to address the unfunded liabilities and the massive shift of Baby Boomers starting to retire. These seniors have high debit loads and low savings rates.

    Group housing in the answer along with local healthcare clinics and shared transportation. This thought of everyone owing a 2000 sf home and a $30,000 automobile to preform basic daily activities is ludicrous.

    Average social security income is only $1400/month and interest income is extremely low. These two factors are contributing to people having to work longer and borrow more from where ever they can.

    • Whippoorwill says:

      I do not know where you are from or what area you are speaking about for the early boomers / retirees to be; ” These seniors have high debit loads and low savings rates. “…..but; in our area, it isn’t at all like that.

      The majority of seniors that have retired, are doing so, with large amounts of cash savings, and income beyond SS Retirement, and have no debts whatsoever.

      Sure there are some that have debt, and those too big homes to pay for, and struggle each month, but; for the most part in our area they worked hard and saved. They lived within their means and have plenty to show for it.

      Some of the later Boomers are retiring early and they too have gotten themselves in good positions for that, by working hard and paying off their debts.
      You will always have those that try to live above their raising, and spend more than they can afford, but most of that type of lifestyle is reserved for the next generations, like the gen Xers, and Millennials.

  8. Bill says:

    Our society is continuously confronted with a large variety of ideologies, issues, agendas, problems, movements, changes, etc. on a national scale. They are mainly injected into society surreptitiously using the MSM, “civil rights” organizations, think tanks, intelligence agencies, public school systems, and other organizations with misleading agendas. They are minions of TPTB / deep state / insider “elites”, knowingly or unknowingly.
    They have many goals, but there are at least 7 primary goals how they want to make Amer., they are: forced diversity (both demographic and cultural), some form of socialist / authoritarian state with diminishing civil rights, maintaining the Amer. empire, reduction in standard of living for the vast majority of the population, the establishment of a permanent ruling class (to also include permanent ruling families), to dilute / compromise or even eliminate Christianity to where it no longer has influence, and to maintain the US as a permanent and unconditional resource pool for Israel. Each goal has their particular purposes not readily apparent to society. Probably most other goals in TPTB agenda are subordinate to these.
    The citizens of the US have the status of little more than manipulated managed disposable resources. Those elements comprising of “elite” insiders and TPTB viscerally and pathologically despise the working Christian white middle class. They maintain only a public veneer of morality and decency, but are actually innately immoral and callous, where only immense and unaccountable political power and hyper wealth matter.
    The people of Amer. are fed a diet of social issues to keep us from unifying. It is one the greatest lies officialdom puts forth, that social and cultural accord is desirable. Rather, TPTB must constantly keep the people of the US divided (divide and conquer) so as not be able to present a powerful force against them. If even only half of the people could form a united front it would be unstoppable.

  9. JP Morgan has been convicted of many financial crimes for which they paid a pittance in fines.

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