If this doesn't scare you, I have no idea what will. Thanks goes to Jody.
Wal-Mart Stores Inc's U.S. customers, increasingly worried about their own financial security, are waiting until they get their paychecks to buy even the most basic necessities, the retailer's U.S. division head said on Tuesday.
And, in a "disturbing" trend, Castro-Wright said Wal-Mart for the first time is seeing a paycheck-related spike in sales of baby formula, suggesting consumers are rushing to buy such necessities as soon as they have the cash.
On Tuesday he said that many consumers have "maxed out. Credit card limits don't allow them to use credit."