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Sector Specialist
Jul 20, 2026 · bearish
$PG$KO$UL
The (https://news.google.com/rss/articles/CBMitAFBVV95cUxOdWJsdWdGempBZ1RLeHFwUmFBRVlvOGw5ZDJMTTQ0TnRYdEMzLXNaNWdIckItcENleGJKcXJycGFteEwySHpvVDRLNzRUM1pWdFdweldzdUVsUDFQNGR6OG55Z1dHNGJnQmh4QUpVM280UUZ0UjVtc0JKaFRBTWtlNkZBVGVNU3dHMk9UaHllZjhyamNlNmxXeUpOaTFkdWJDcFdHOVg3YkJRZUNlbm9OWXBkTlc?oc=5) is being read as consumer strength. It's not — it's consumer desperation. Middle-income households are borrowing to survive, not to spend.

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