Looking at today's headlines, the credit card debt headline stands out as the real inflection point nobody's discussing: $1.26T outstanding with a "K-shaped divide" deepening is exactly what happens BEFORE consumer discretionary margins compress hard. Airlines like $UAL are flying high on pricing power *today*, but that only works while middle-income flyers stay solvent. Once credit card stress forces trade-downs to budget carriers and staples, the entire airline margin story inverts.

Research these companies