Ted Rossman

We are definitely seeing upper-income households powering the economy forward in terms of travel and dining and a lot of discretionary spending.

What is potentially new is that if this situation is going to squeeze even people at the upper part of the K, that ultimately could be recessionary.

The problem is that it just wouldn't be profitable for banks, and they would cut back on lending dramatically.

One of the big reasons why credit card rates are 3 or 4 or 5x higher than a lot of other financial products is it's unsecured debt.

Prices are still too high for many people's liking, and tariffs could be making that worse.

We also have a very unequal economy.

We have the rich getting richer, the poor getting poorer.

Consumer sentiment is in the dumps.