The US economy is weakening as YOLO spenders pull back from 'fun and games,' economist David Rosenberg says

• Consumers that are eager to spend are starting to pull back on "fun and games," economist David Rosenberg said.
• Discretionary spending has already weakened in areas other than travel, Fed data shows.
• That spells trouble for the economy, as these so-called YOLO spenders have propped up growth.

The US economy could weaken in the coming year, as so-called YOLO spenders (shorthand for "you only live once) who were once propping up the economy with pandemic stimulus money are now starting to pull back on "fun and games," according to top economist David Rosenberg.