US consumers are pulling back spending on dining out:
Restaurant and bar retail sales dropped -1.5% month-over-month in February, the biggest decline in 2 years.
This marks the second monthly decrease out of the last three.
As a result, restaurant sales have plummeted by an… pic.twitter.com/YMjOhuRtsk
— The Kobeissi Letter (@KobeissiLetter) March 18, 2025
This is truly insane:
DOGE’s spending cuts are ramping up so quickly that United Airlines announced government travel is down a MASSIVE -50%.
US airline stocks have now erased over -$20 BILLION of market cap over the last 4 weeks.
What is happening here?
(a thread) pic.twitter.com/0WUqLkTCcL
— The Kobeissi Letter (@KobeissiLetter) March 15, 2025
Interest expense on US Treasury debt now projected to reach $1.5 trillion. $6 trillion rolls over in April-June quarter.
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