Life’s bananas. Let’s buy something!
Marketplace
Marketplace
4.6 • 8.5K Ratings
🗓️ 14 August 2023
⏱️ 27 minutes
🧾️ Download transcript
Summary
American consumers keep on spending month after month — even as inflation and rising interest rates chip away at family finances and credit card debt mounts. But after several years of hardship and unpredictability, there’s still a lot to stress about. And it’s got us feeling spendy. Then, how Gen Z and millennials feel about investing and how waste plants pick through unsorted recyclables.
Transcript
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| 0:00.0 | Marketplace Morning reports new Skin in the Game series explores what we can learn about |
| 0:04.5 | money and careers from the $300 billion video game industry. |
| 0:09.4 | Plus here how an Oakland-based program helps young people get the skills they need to break |
| 0:14.0 | into this booming industry. |
| 0:16.0 | Listen to Skin in the Game and more from the Marketplace Morning report wherever you get |
| 0:20.5 | your podcasts. |
| 0:23.8 | On the program today, a question, how are you feeling? |
| 0:28.6 | From American Public Media, this is Marketplace. |
| 0:41.3 | From Oregon Public Broadcasting in Portland, I'm Rimechres and for Ky Rizdal, it is Monday, |
| 0:47.1 | August 14th, good to have you with us. |
| 0:50.5 | There is a thing, a thesis, if you will, that we say all the time on this show, and that |
| 0:55.3 | is consumer spending, which makes up about two-thirds of US GDP, it drives this economy. |
| 1:02.7 | So again, how are you feeling? |
| 1:05.3 | Because our willingness to keep on spending robustly despite inflation, despite soaring |
| 1:10.5 | interest rates, it is almost single-handedly keeping this economy out of a recession. |
| 1:16.4 | Tomorrow with July retail sales, we'll get a good sense if we consumers are still doing |
| 1:20.7 | our part. |
| 1:21.7 | Because on one hand, the New York Fed reports that US households feel their finances have |
| 1:26.7 | improved from a year ago. |
| 1:28.9 | But at the same time, we've got data that show Americans are racking up more and more |
| 1:33.4 | credit card debt. |
| 1:35.4 | Marketplace's Mitchell Hartman reports on the economic conundrum that is the US consumer. |
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