Chipotle's 18% stock crash and 34% year-to-date decline signals a critical consumer spending collapse that investors must understand. The company cut its full-year outlook for the third time as 40% of customers earning under $100k annually pull back from discretionary spending. This isn't isolated—it reflects declining wage growth, falling work hours, and rising unemployment among younger workers burdened by student loan repayments. The Fed faces a conundrum: cutting rates admits recession and risks stock selloffs, while holding steady worsens the labor market. With 78% of executives pressured to prove AI saves money, job cuts are accelerating. Holiday spending is predicted to disappoint, triggering broader retail, manufacturing, and transportation layoffs. This economic slowdown will drive inflation down as consumer demand craters, creating a vicious cycle that could impact all asset classes including crypto markets.