The death of revenge spending
Marketplace
Marketplace
4.6 • 8.5K Ratings
🗓️ 10 May 2023
⏱️ 27 minutes
🧾️ Download transcript
Summary
Inflation is wearing consumers down, and it’s starting to show. We’re saving less, putting more on plastic and seeking out discounts. On today’s show, we dissect consumer fatigue. Then, we’ll hear what it’s like working at a rural hospital during a health care staffing shortage and examine how lenders that serve Native Americans are responding to proposed federal certification updates.
Transcript
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| 0:00.0 | Hey everybody, it's Kai. |
| 0:01.6 | It's our May fundraiser time and we have to raise $350,000 to stay on track for our fiscal year. |
| 0:07.2 | And you can take it from us. |
| 0:08.4 | We have done the numbers and we can only do what we do with the support of our marketplace community. |
| 0:13.6 | You are the most reliable source of support we have. |
| 0:16.3 | Help us reach our goal when you give it today at Marketplace.org slash donate. |
| 0:22.8 | So, how you doing? |
| 0:25.5 | You tired yet? |
| 0:28.2 | From American public media. |
| 0:30.5 | This is Marketplace. |
| 0:42.0 | In Los Angeles, I'm Kai Rizdal. |
| 0:43.9 | It is 10 May today, Wednesday. |
| 0:46.7 | Good as always to have you along everybody. |
| 0:49.2 | So it was a very specific kind of tired I was talking about up in the open just now. |
| 0:55.3 | I mean, we all know that spending by or on behalf of consumers accounts for something near 70% of this entire economy. |
| 1:03.0 | So when I ask you if you're tired, what I really want to know is how much longer are you going to be able to take all this inflation? |
| 1:11.3 | Price is up 4.9% year over year as we learn from this morning's consumer price index. |
| 1:16.8 | And yes, sure, that is well below the 9% we saw last summer and things are trending the right way so stipulated. |
| 1:24.9 | But it's been a long time now prices have been elevated and at some point the question has to be asked of how long until consumers just aren't going to be able to take it anymore. |
| 1:36.2 | As Marketplace is a very many short reports to get us going the answer to that question is kind of complicated. |
| 1:41.7 | Inflation wears you down and in some places it is starting to show. |
| 1:46.1 | We're approaching historical highs in terms of relevant credit growth. |
... |
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