Christopher Lowe

had an upward revision to third quarter GDP to almost four and a half percent.

It's really narrow in distribution and therefore a relatively small number of individuals who are producing and earning that income.

So people are borrowing more to make ends meet.

And as a result, the savings rate is coming down.

I think it all ties back

to affordability, which is at the top of consumer surveys on the economy.

And it's not just inflation.

The other side of the affordability equation is jobs and income, and they're not keeping up with prices.

People tend to stock up.

So there's a big increase in spending before a storm like this.

And then a decline in activity, particularly travel activity, after the storm hits.

On net, it's a wash.

But, you know, it is going to be evident in things like energy prices.

Natural gas prices almost doubled this week from where they closed on Friday last week.

Thank you, Sabri.

Here's the deal, right?

Most credit card interest rates are over 20%, which is remarkably high compared to other interest rates.

The reason is it's an unsecured loan.

If you ultimately find you can't pay, you can walk away from it.

That comes with penalties, of course, but from a bank's perspective, it's still money lent and lost.