What's Your 1 More?

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Is the consumer tapped out, or just done spending? Credit card debt has hit $1.21 trillion, with delinquencies climbing—especially among 18-39-year-olds. Homeowners are in a better position than renters, but will rising rates and economic shifts change that? The Federal Reserve's next move could shake up mortgage rates and home sales. Plus, Elon Musk is calling out phantom employees with a bold ultimatum—submit proof of your work, or consider yourself gone.

"The biggest buyer of mortgage-backed securities is coming back—this is a massive win for the consumer." – Quinton Harris

Source: New York Fed Consumer Credit Panel/Equifax

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[00:00] - Intro: What’s in this episode?


[00:05] - Are consumers overextended or done spending?


[00:50] - Credit card debt hits $1.21 trillion


[02:17] - Who is struggling the most with debt?


[03:10] - Retail sales hit a 2-year low


[04:45] - Is high credit card interest stopping spending?


[06:00] - The truth about home sales dropping


[07:30] - Why January home sales always dip


[08:40] - Are housing crash predictions just fear-mongering?


[09:50] - What the Federal Reserve is signaling next


[12:00] - Why the biggest mortgage buyer is coming back


[14:20] - Will mortgage rates hit 5% this year?


[16:05] - Elon Musk’s “5 things” ultimatum explained


[17:30] - Could fake employees be getting exposed?


[18:15] - Would you pass Elon’s test?


[19:00] - Will taxpayers actually get $5,000 refunds?


[20:30] - Could refunds backfire and fuel inflation?


[21:15] - Final thoughts & what to watch next