Following the reduction of SNAP benefits in March, households earning less than $50K cut back on grocery spending for the third month in a row.
“62% said cancellation of benefits significantly impacted their budgets, so that’s a negative for all supermarkets,” explains Daniel Biolsi in this clip from The Call @ Hedgeye.
“What you have here in America is the most divided gap between elites and those who have no money left,” adds Keith McCullough. “It’s kind of sadistic and disgusting to watch Wall Street pundits say the economy’s in great shape.”
Watch the full clip above.
