As financial fears mount, some Americans are "doom spending," or spending money despite their economic and geopolitical concerns, as a way to cope with stress.
What an insane way to look at it. People say they are worried about the economy, but they are spending like they are not worried about the economy.
Economists would say that economic activity reveals the true feelings, maybe people are saying they don’t like “the economy” as a political statement or to align with the vibe they are getting from others, while actually feeling OK about their own economic prospects.
Or maybe people’s spending and feelings are disconnected now because they still have a savings cushion from the government covid assistance which changes the math.
No matter how you feel about the odds of those interpretations…surely they are more coherent than this crazy article cobbled together to find any possible way to make resilient consumer spending, aka the bedrock of the economy, look bad.
What an insane way to look at it. People say they are worried about the economy, but they are spending like they are not worried about the economy.
Economists would say that economic activity reveals the true feelings, maybe people are saying they don’t like “the economy” as a political statement or to align with the vibe they are getting from others, while actually feeling OK about their own economic prospects.
Or maybe people’s spending and feelings are disconnected now because they still have a savings cushion from the government covid assistance which changes the math.
No matter how you feel about the odds of those interpretations…surely they are more coherent than this crazy article cobbled together to find any possible way to make resilient consumer spending, aka the bedrock of the economy, look bad.
Hahahahahahahahahahahahaha