US Consumers Are Headed Down ‘A Death Spiral'

DoubleLine Capital’s Jeffrey Gundlach warns of a potential economic decline in 2024 and foresees Americans facing severe financial challenges. He criticized the excessive government stimulus, stating it inevitably led to inflation. Gundlach highlighted the unsustainable rise in credit card spending, describing it as a “death spiral” for personal finances. He also noted that traditional economic indicators predict increased market volatility, with an inverted yield curve and stagnant unemployment rate.