Right now on fast consumers keep piling on the dead and it's now at a new record level

as the major retailers get set to report this week how worried should investors be that

the spending spigot is about to get turned off plus a banking battleground shares a bank

of America falling more than 20 percent in just the last three months and down more than

16 percent for the year. Why is this money center monster being laughed by the competition?

We'll debate that. And later an activist trying to shack up with shake shack inside

stirrup does monster move higher and the Beijing bounce can you trust the Chinese stock rebound

I'm Melissa Lee this is fast money we're live at the Nasdaq Market site on the desk tonight

Tim Seymour Courtney Garcia, Bono and Ison and Guaidami and we start off with a staggering

number of just how much the US consumer is carrying 17 trillion dollars and counting this according

to a new report from the New York Fed debt is now at record levels and is generally three trillion

dollars from its pre-covid levels despite comes as the nation's biggest retailers get ready to

report earnings home depot target tjx companies wallmark footlocker delivered quarterly numbers

starting tomorrow of those retailers only wallmark is trading higher over the past three months so

how worried should the markets be that the consumers are getting close to some sort of

spending limit Tim well I mean they should be concerned about a couple things first of all

there's a disinflationary trend which we think is great for the consumer but it's not great for

people like wallmark so you know if you think about it to the extent that not only do you have

this 17 trillion dollar debt number that's just kind of scary but you're now with credit card debt

over a trillion so they're all happening at the same time the consumer seems to be drawing in

wherever they can yeah the University of Michigan on Friday saying that you're down 9%

month of a month yet a terrible empire manufacturing we know manufacturing sneer not only recessionary

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