American consumers keep defying the odds

Chuck Zodda and Mike Armstrong react to the PCE report that showed consumer spending was up significantly in July. The labor market is still historically strong, but it is starting to cool. Credit Card debt at $1T is a sign of consumer strength. 61% of Americans are living paycheck to paycheck, how is that so? China's economy shows fresh weakness in factories, housing, and consumer spending. UBS breaks banking industry record with $29B profit after Credit Suisse takeover.