Is the American Consumer Done Spending?

[@tbd6963]

I’m not tapped out I’m just not blind to the fact that quality is worse while prices are higher

[@agentm83]

absolutely, same here in Canada. Places like fast food chains need to become more compelling if they want to entice us back. I've mostly stopped going out, the price tag for a lot of things just isn't worthwhile.

[@JewishBanker911]

Same here in Australia.

[@spaghettiking7312]

Based.

[@shannonsollman3509]

How do you think so many became millionaires? By cutting quality products and food!

[@joshn2342323]

Same. Higher price, lower value, so it is easier to just pass on buying a lot of things. I would say for a lot of stuff we americans don't buy, we should just export it to other countries. We don't need it, let someone else buy it.

[@mitas3484]

When spending decades removing people’s spending power finally impacts your share price 🤯🤯

[@Sylvan_dB]

"Buy now pay later" is NOT lay-away! Lay-away you did not get the product until after you had paid for it. Lay-away was not credit or debt. "Buy now pay later" is credit and debt.

[@lanceknightmare]

I heard my great grandfather had layaway at his store. People would pay for Christmas presents months before Christmas. Then, they would pick them up once paid for. His daughter was born in 1927 and she worked at her dad's store.

[@DeusVult77763]

Honestly its worse than lay away. And lay away contributed to the 1920 crash and subsequent great depression. Idk how these startups are getting away with something so financially risky

[@Sylvan_dB]

@@DeusVult77763 The 1920 depression recovered within 18 months (without government intervention). The Great Depression started after a market crash in late 1929 and persisted for years (despite, or perhaps exacerbated by, massive government intervention). I've never seen any claim before that lay away contributed to any market crash or depression and I do not see any connection.

[@DESKWERKSJB]

Years ago, in the US military overseas, they had something called "home layaway". Just like the now "buy now, pay later", the only differences I can recall was there was no interest, but an upfront (reasonable) fee for service. And, of course, the military always knew where you were (if they had to find you) and, could probably dock your pay if necessary.

[@spaghettiking7312]

They ship your jobs overseas, force you to get an education you can't afford, then tell you to spend what you don't have. This is why we're falling off a cliff.

[@blessingndlovu9037]

American life is a debt trap

[@eddiemalvin]

*self-inflicted debt trap

[@alexcipriani6003]

@@eddiemalvinonce credit is widely available and everyone takes credit it will drive up the price of stuff making it more difficult to increase your income in par with available credit. So you lose purchasing power from income or access credit to keep up the spending.

[@IamAWESOME3980]

Uber eats and stack bucks coffee is a debt trap

[@stephenphillips6245]

North America runs on debt, unfortunately.

[@sociolocomtsac]

Can't blame others for your spending habits.

[@Frankweily]

Sixty percent of U.S. households are living paycheck to paycheck, with personal debts totaling $19 trillion. Delinquency rates are rising, and there’s a significant amount of student loan debt, along with other financial challenges. My biggest worry is if I can survive after retirement with $800k.

[@Brightenedrim]

Reallocating your funds to minimize risk during market fluctuations is a smart move. Consulting a financial advisor can help simplify the process.

[@Madridstrat]

Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.

[@JesseMayhill]

Pls how can I reach this expert, I need someone to help me manage my portfolio.

[@Madridstrat]

Melissa Elise Robinson is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

[@JesseMayhill]

Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

[@aceyage]

I'm not spending on big brands because I don’t want these destructive companies to get bigger.

[@Elemblue2]

Yea. Ive switched to alot of places that are going the opposite direction that they want to go too.

[@okbarrels]

Exactly. Don't feed your money to the rich.

[@Truth_Spoken]

Meanwhile companies are reporting record profits…

[@caitlin3875]

Because everyone is putting things on credit cards

[@aybay8723]

Yes and the 1% is getting a lot richer

[@amielvasco3503]

I mean if all your products has gone up 3x coz the cost of raw materials went up 3x then you're likely going to get 3x in revenue.

[@_synyster_9442]

Credit card spending and layoffs, more money in the company’s pockets

[@itzadam9359]

Inflated profits

[@Yormsane]

"Is corporate America done bleeding us dry?" There, I fixed it for you.

[@Ren33469]

Its not done bleeding you, you are done bleeding😂You're a liability now, a threat to the order🙃

[@TheDoomWizard]

The cost of living is insane

[@HexaBoxabl]

Every family has that one person who will break the family financial struggle, I hope you become the one😊

[@MagarethWoods]

Everyone needs more than their salary to be financial stable. The best thing to do with your money is to invest it rightly, because money left for saving always end up used with no returns.

[@jeremygood3246]

If you don’t find a means of multiplying your money, you will wake up one day to realize that the money you thought you had, had exhausted. Investment is a ladder to climb the financial wall.

[@ScarletJohansson-rg6jr]

I'm currently in Australia I’d like to invest, where do I start from?

[@MagarethWoods]

Kate Mellon Bruce is not just my family’s financial advisor, she’s a licensed and FINRA agent who other families in the US employs her services

[@MagarethWoods]

She's active on face book @

[@patty109109]

This is mostly Clickbait chum. There is nothing meaningful in this news bit at all. Same tired junk we’ve heard for years.

[@rabokarabekian409]

stoopid same old boring reality...doh!

[@A-BYTE64]

true

[@moisesferber]

agree

[@cfbmoo1]

In the 1980's I started out at $4.25/hr above minimum wage. Today there are still places that have $7.25/hr as the minimum wage. That's messed up considering how companies and the top one percents income has shot through the roof while prices for everything shot through the roof as well.

[@9Nifty]

If consumerism is hitting a speed bump then we'll have to revisit scary ideas like sustainability, post modernism, and anti-captialist practices.

[@ecoideazventures6417]

You are mistaken - it is just a speed bump. Talk to consumers after their car crashes!

[@LlnusTechTips.]

Technology innovation will help us maintain sustainability while consumerism prospers

[@9Nifty]

@@LlnusTechTips. It's looking like AI will take jobs while the middle class will no longer be able to afford anything and consumerism suffers.

[@RIVvideos]

If youre making $250k/year and you’re living paycheck to paycheck, the problem is not the economy

[@jaredf3381]

The caveat of single parent in VHCOL area (NYC, San Fran, etc.)

[@sunnysnailshell962]

People, pay off your credit cards!!!!

[@ritardstrength5169]

The card companies would go crazy if we did that! They call people who pay in full every month ‘deadbeats’

[@eddiemalvin]

​@@ritardstrength5169 LOL... Credit card issuers LOVE customers who pay in full. It reduces delinquencies, lowers collection costs and decreases the amount they need to keep in reserves. They make money on every transaction (i.e. interchange fees) regardless of whether you pay in full or not.

[@alexlopez5800]

And you're mortgages, auto loans, Credit card debt, etc. Just debt...

[@richardincm]

Always have, every month-end all my life, my bank must Hate me ! 😄

[@eddiemalvin]

@@richardincm Credit card issuers earn interchange fees on every transaction regardless of whether you pay in full. They love people like us because we're a low maintenance income stream for them.

[@AdamSchadow]

This is simply caused by a lot of problems that are completely ignored by the governments in the western world stacking up here are a few: 1. Demography - fewer children means they pay a higher % to their parents once they get older 2. Corruption - most politicians are mass stealing money without any repercussions either directly or indirectly by using their position to cheese the stock market for example 3. Excessive borrowing - commonly states now have so much debt that it would take them years of not spending anything just to pay it off 4. Massive bureaucracy - instead of making things simpler we are adding more and more rules exceptions and paperwork for pretty much everyone thereby everyone has to waste more of their time that would be spend being productive on filling out forms 5. Treating infrastructure as a luxury - things like roads are viewed as something that people who drive on them should pay for rather than an investment into better infrastructure that helps everyone 6. Degradation of the school system - children today spend more time in schools and on homework than before while not learning more and on the higher levels of education wasting their time even on entire degrees that are pointless and should not even exist 7. Legalizing crime - its pretty obvious that if you allow crime people will do it but we still pretend like its not the case 8. Monopolies - the idea that once a company controls a market they will sell worse products for more money is not new but nothing is done against it

[@Emucratic]

I'm not buying because the things that are coming out now are often worse value than what I currently have. So it doesn't make sense to pay more for what feels like a downgrade.

[@mind-of-neo]

I love how they paint this narrative that everyone had this moment "after covid" when they went out and partied and traveled and bought tons of goods. This didn't happen in my world. Just like how they said everyone went out and bought houses during covid. This was something rich people did. The rest of us are looking around wondering where all this opportunity for wealth and happiness and fun is in the era of "you'll own nothing and you'll be happy".

[@giusepperagusa3436]

I agree. They seemed to ignore the millions of people who became unemployed because of the pandemic. Those people did not increase their savings and are still catching up

[@mind-of-neo]

@@giusepperagusa3436 💯

[@matthewsimmons2008]

companies hoarding money and not sharing any with the employees but hey at least the shareholders are happy

[@billinsf88]

Or lay-off off employees to “return value to investors”.

[@melovinde]

@@billinsf88and make sure food banks is a lifestyle choice 😂😂😂 MAGA!

[@billinsf88]

@@thisbarb you mean to dig into 401K to purchase groceries and pay rent? How sustainable would that be? 10% of the population owns 90% of the market, do the math.

[@robertmusil1107]

And the shareholders are pension funds. If the companies go down they take your retirement with you.

[@F_Du_Sea]

I hear this sentiment a lot so why not become a shareholder yourself? All you need is a brokerage a account.

[@jeffreycrowe6669]

Amazing that as soon as sales slumped, all these chains had value deals. They were jacking up prices all along.

[@cmdkaboom]

Can't spend what you don't have right now 😂

[@aviralgupta393]

and what is buy now pay later?

[@jcrc1]

You certainly can

[@stormvillians]

Our WAGES ARE BAD ... YEARS OF NOT RAISING IT. W A G E S !!!!

[@alexlopez5800]

Don't get in debt. Simple

[@BrandonHanson]

​@alexlopez5800 it's pretty hard when wages actually fail to keep up to the cost of living.

[@Obsidian-Nebula]

Wages are raising all the time. Even the chart they showed in this video shows that

[@shaymalchione809]

@@Obsidian-NebulaNot enough too many years being stagnant.

[@marioc1247]

2020-2022 was the outlier, this is our norm. we’re spending as much as we did before covid

[@icemoneycooks5299]

Pay people livable wages and do something about these mass layoffs!

[@mikemiller659]

Ai will put most out of work

[@Sjalabais]

"Inflation" is cost driven, this phenomenon is profit driven. The class divide is widening at record pace. I own some stock that pays 11% dividends. That's insane. Incompetent companies like Boeing are taking on debt in order to pay dividends. It's poor reporting to just exclude a massive factor like this from this story. Yes, the consequences are real and the reporting hints at a lack of regulation for its cause and how it develops. But the US really needs to shape up to not let companies run rampage on the back of their population. It's a recipe for disaster.

[@conybrown991]

Lowering the feed rate significantly , say by 500 pt can lower the operation cost, which would eventually lower the inflation

[@Lex_Lugar]

There’s no need to put quotations around the word. How inflation occurs has been well-established over thousands of years. It starts with the supply of money. The rest of what you said is true and downstream of the Cantillon Effect. The money system is debt-based, so of course the entities closest to the newest supply of money will take on the debt (new money).

[@puffinjuice]

Americans falling behind on debt, no....who would've thought. Debt is not normal and it is not sustainable.

[@freemanol]

The whole west economies are built on debt. They purely rely on consumption to boost GDP, yet they produce nothing. The definition of gluttony

[@yensteel]

"but it boosts the economy". Not sustainable if it's excessive. Dangerous even. Are there any regulations that state first hand loans must be.. 50% of their debt, 2nd hand loans must be 30%, and so on? Could it be possible to trace and audit in this way? It could reduce some of the domino effects.

[@bitcoindaddy1]

Debt is money . If ppl understand this concept , then ppl understand why govt push ppl to spend. It increases money supply which increases inflation which increases gdp which increases tax revenue which increases spending

[@alexlopez5800]

Everyone with any kind of debt will regret it

[@bitcoindaddy1]

very few ppl understand this...credit money is also created when you take out mortgage or buy that latte from starbuck on a cc. so if the world paid back all the debt in the world with the same currency then there would be NO money in the system....this is called a debt base monetary system. few.....

[@doujinflip]

Inflation is caused by demand outstripping available supply. Companies have been reporting record profits. Makes you wonder how much the supply has been deliberately limited in order to inflate prices and please shareholders.

[@zwatwashdc]

Inflation is caused by devaluation of the dollar via printing.

[@teebone2157]

Whatever you just type, you need to throw it out away. Inflation is caused by consumers buying over expensive things and companies keeping prices high as they can right now. That's a common fact. Throw that textbook c*** in the trash. This is a new world where greed is taken over.

[@robertmusil1107]

Inflation is causes by money printing. Check Germany before the World War. It isn't supply that is missing. You can't just suddenly eat more eggs (went up like 300%). It's purely the Dollar printing by the FED. Look at the money supply graphs (M2).

[@straightdrive6192]

Eventually capitalism come in handy, there will be a provide of goods and service show up for lesser price. thats how capitalism supposed to work.

[@roboticbigfoot3222]

It’s not inflation, it’s corporate greed. The price of gas has gone down so that should be reflected in the price of goods, it’s not.

[@seymorefact4333]

🤬🤬😭 Even items at GOODWILL, ARC ARE EXPENSIVE!!!!

[@ethanschwartz9462]

the american consumer doesn’t even stop spending when they run out of money lol. they just use credit cards

[@andrewareva4605]

There seems to be a huge disconnect in this video regarding money supply and inflation. Does everyone not know that when you print money, that directly increases inflation and that interest rates are meant to slow spending to help lower inflation? Prices rise and those companies make more profit when everyone is willing and able to pay. If a Lambo costs a million dollars and everyone gets handed $10 million dollars, suddenly that lambo costs way more. If $100 million falls out of the sky, that lambo costs even more. It's bad when the government prints checks and gives it to everyone, but even worse when they print money and hands it to defense contractors, wall street, Ukraine or Israel, because prices go up, but middle America barely gets any of that trickle down if any. A defense contractor getting a billion dollars handed to it by the government from printing money then using it buy steel for shells means that that steel costs more for automakers who then charge more for cars and regular people who didn't get that money have to pay more for those cars.

[@mikemiller659]

correct

[@Archchill]

wow someone who understands the economy. i wish more people realized this like you.

[@toddbowers5673]

Greed not inflation…

[@TheKeeperMD]

anticompetitive big businesses that need broken up, as America has done for decades, just saying “greed” is whiny and not productive Vote Harris if you want any chance

[@sebastiangruenfeld141]

all data says its inflation but I understand your feelings

[@henlohenlo689]

they dont need to ve broken up they still have no incentive to create jobs. instead labor relations with govt needs to force them to create jobs. they have no incentive to create jobs when they can price gouge instead and even if its a small few companies they still can act like monopoly one fine example is ltl trucking. its not enough to break it apart.​@@TheKeeperMD

[@henlohenlo689]

​also harris has no clue economy her solutions are taxes and hand outs which is what politicians who dont know economics turn to, to sound like they are doing something.

[@kubotite9168]

@@sebastiangruenfeld141 all data also shows these comapnies making record profit

[@andre.shaw91]

The money has gone somewhere…We have just witnessed one of the biggest wealth transfers in history and if it continues, you are looking at large scale civil unrest

[@cisium1184]

I'm not done spending but I am more intentional about how I spend my money and time. The results can be quite synergistic; for example, I now bake all my bread which is both cheaper and a more rewarding using of my time than buying it.

[@mohamedabdukadir3271]

Just low your spending and stop buying unnecessary products then will prices lower down

[@perfectscotty]

Exactly

[@caseypenk]

true but deflation can be much more harmful than inflation

[@caseypenk]

deflation leads to a downward wage spiral

[@Pencil-o1p]

Who cares about deflation? We’re dealing with high sky inflation now.

[@samster4955]

just trying to save so im not just surviving. All subscriptions are canceled, and I don't buy anything that isn't necessary like eating out and Starbucks. Cooking at home and making my own coffee has allowed me to save so much!! I only wish I started sooner.

[@dexocon2658]

Same here 😊

[@Pencil-o1p]

Congratulations on putting your first steps on the right path!

[@djm2189]

I just want a small decent home. I'm 29, single, earn $120k, no debt, net worth of $150k so far. 1bed trash condos cost 400k here. Homes start at 600k. Naw. People buying these homes are 1 mistake away from foreclosure. This is unsustainable completely due to low pay jobs, inflation, corporate greed, etc. I'd rather rent and save a bit each month and jump when it's less idiotic. Past that i only buy needs and very few wants.

[@rspraveenkg]

1 advice “Stay Single”

[@djm2189]

@@rspraveenkg most definitely! If ido date, I'm doing everything under my name alone. My mortgage will only be under myself. I worked too hard to lose it over "love". Too many family members have been in that situation.

[@ricardoesco8146]

Stop buying stuff you don't need

[@mikemiller659]

but it makes me happi

[@Korloko]

I’m done spending. At this point all I want to do is pay off my house then stop working as soon as possible.

[@alexl0890]

I'm done being asked for tips everywhere even when I order at a self service kiosk. Pay your effin employees a living wage or go out of business. Stop being so greedy corporations.

[@justinjones2973]

Low Quality products, but high prices

[@miken7629]

Purpose of Fed lowering rates is to encourage more debt and spending, our economy depends on both consumer and government deficit spending

[@koyotecow7102]

Lower interest rates only affect how much banks charge other banks. This trickle down effect will not hit the consumer. Consumer savings have bottomed out. They're debt levels have increased lowering their credit rating. So the banks don't even loan them money anymore. We're now at the day of reckoning. Spend within your means.

[@heather1506]

Medical debt forgiveness is needed. They can do it with student loans, and college is a choice getting sick is not

[@endlessorbaggins8223]

An healty economy rely on people overconsuming. Many gadgets are now made to last only a few years so the consummers by more (cell phones, appliances, etc). Fast fashion is another example. With the current economy people need to think more how they spend and for once ask themselves the simple question: "Do I really need it?". They realise that there is a difference between "wanting" something and "needing" something. Probably even some people realise how much they are brainwashed to always "want" more. How they are conditionned to reach that ideal view of material success (branded clothes, nice audit, travels, nice big house, brand new iPhone model, etc)

[@SamBroadway]

I know I've stopped spending..... And I am healthier now that I eat at home....

[@md6886]

Never had credit card debt.. thats just weird to spend more than you can afford.

[@enticingmay435]

We can’t spend the money that we don’t have lol Americans still loveeee spending money but they just simple can’t afford to anymore. Want us to keep spending and prop up the economy? Raise our wages so that it actually match inflation. Simple.

[@eduardoforneck3335]

"Buy now pay later", dude reinvented financing

[@ilia9048]

It's normal when people consume really necessary goods and services, do it consciously, not causing special harm to others and the environment, not driving themselves into loans, BUT most people in the U.S. (and Western countries) consume quite differently. Therefore, both people and the economy are in an unhealthy situation

[@signkutter9218]

I love purchasing a quality made product or services...sometimes I don't even have a need... The U.S supplier and producer has become a producer of the shoddiest shiniest garbage they can sell. I am done with that

[@theundone777]

Yes. I am done spending on anything that doesn't make my life significantly better or improve my economic situation. I'm also done spending on things that are terrible quality that aren't going to last. Consumerism is not needed.

[@Allaiya.]

Every one I know is trying to save for a house or a car bc they can’t afford to spend on anything else with how high those items are now. Especially when you count in food, childcare, insurance etc.

[@Xenon-4300]

A soft landing isn't possible when we've already landed then bounced up and need to land a second time. That's basically what is happening.

[@ohwell9887]

If we don't have it to spend, then we won't😑

[@darwincity]

Savings are at an all time low.

[@jamesmoore7676]

People complained while driving they're new vehicle wearing $140 leggings.

[@fubytv731]

This video hit me like a ton of bricks. I've been wondering why the economy seems to be getting worse lately. And then it made me realize that we're still struggling with the effects of the pandemic.

[@tommykrynock]

Doom spending spend today because there might not be it tomorrow 😂

[@Slide61]

Message...this time around it's consumer health instead of no doc loans and junk CDOs. Deflation is just around the corner.

[@russellarmer-ml1ir]

just lowering interest rates and dropping fuel prices a few cents will not fix this mess

[@michaelpacifique3017]

"Revenge spending" American are great man. The way people spend money, it is like there is a rulebook on how, when and where to spend money.

[@vasanthpragash854]

Hi how do housholds with 250,000+ live pay check to paycheck? Are they all doctors etc? How much debt do they have? Or is it like 4 adults huddling together for reducing housing costs?

[@JonConstruct]

Didn't Carlyle coin the phrase "the dismal science" because he disagreed with other economists who argued slavery was economically inefficient.

[@Allaiya.]

I use to never buy brand name since I’m frugal but I’ll definitely spend $ on brands if the quality is there. I’ll still check the material & ingredients.

[@undeadfate99]

I'm done spending only buying what I need and when i do buy i look for quality instead of quantity

[@ianandersen265]

It drives me nuts to see some people spending recklessly with their stimulus checks. As for me, I did the smart thing and paid down debt. Others used those stimulus checks just to pay bills.

[@KarlBuckley-bw3vc]

Yet publicly traded corporations are routinely reporting record profits.. something ain't right here 😢

[@wintermath3173]

It would be much better for the planet if we all chose to live within our means rather than taking on debt to buy more cheaply made stuff.

[@stevemelton4388]

Corporations have killed it during these inflationary times. As inflation lowers, profits will suffer and they will have to lay off. If people lose their jobs, that’s when the recession really takes off

[@BryceLovesTech]

Thank goodness we listened to Dave Ramsey 10 years ago

[@adamoliver4094]

70+ percent of that $17 trillion in debt is for home mortgages. The majority of which are at low fixed rates.

[@enchantedseasonslawncare8559]

I'm done spending, less is more these days.

[@shelbynamels973]

Can you imagine how much better those Americans that were sitting on that pandemic savings cushion would be off today if they had invested that money, instead of engaging in that so-called 'revenge spending'??

[@kenschmiesing4442]

Why are all the people being interviewed "Bloomberg reporter". I am sure they are smart people on money but we should hear from economist and/or put the people's economic credentials up on the screen

[@stickyfingers02]

One last wave for the fall season/Christmas presents then the spending will drop off rapidly.

[@eddiemalvin]

Based upon the packed restaurants, bars, airports, concerts, sporting events and shopping centers, I'm guessing the answer is "no"

[@JoseRodriguez-ti2ii]

Buy now, pay later, the main reason Goldman Sachs is getting out of Apple pay.😂

[@TheLastBrandon]

Well, as a consumer, all we can do is vote with our wallet. The quality of everything in the US has fallen off a cliff and prices have went through the roof. So yes, I’ve been done spending for the past decade.

[@anonymous_person_smith]

At Target the cost of a bag of Philz coffee beans is almost $17. What the heck.

[@mtiger62]

How to go out and eat and spend? When the prices already so high? PLUS you need to pay 20% to 30% tips and tons of Sales Taxes ...

[@michaelhatfield5808]

No people will always spend. Can't resist. Not us though.

[@Questioneverything2050]

So basically, the world works, america gives them paper for their effort 😂😂😂

[@droidgunner3840]

Every Christmas they want u to go into debt

[@Jimwenten]

I'm done spending. Learning how to grow some food

[@dd032894]

Not complicated. Quality is going down prices keep going up.

[@leonlee877]

This is America where everyone wants to look rich before getting rich and you have Meta, google, amazon to oush more targeted ads to these folks with great accuracy. American consumer isn't tapped out. They are still alive and well getting into debt.

[@SuperGGnoRE]

Misleading, chart shows how much consumers are adding to their savings per month, not their total savings. In fact the chart suggests Americans are spending just fine because they're saving less of their paychecks.

[@Salmo77]

So “Buy Now Pay Later” is basically the new BUBBLE…

[@herrteufel515]

Well, I would say it all comes down to the cost of accommodation. If your rent doubles or triples, you can't avoid it, you're paying to stay off the streets. If the rents are high, you can't afford goods like cars, appliances, things for hobbies. All the money you earn goes on food and landlords bank accounts. So businesses that produce goods will struggle. Fixing this is easy, just ban institutional investors from buying existing properties. Wanna be a landlord? - Then buy some land, do the paperwork and build new houses on it.

[@j887276]

Keyword- CONSUMER. Financially educated are NOT consumers they save & invest. Stocks & savings rates have been at RECORD highs. While consumers have been spending & complaining, financially educated have been making BANK 🤑

[@pinkroses135]

Never quit YOLO! Buy all that stuff you don't need that falls apart after a few uses

[@mister_betechkin]

I'm definitely spending less on small, everyday things in order to maximize the enjoyment of bigger purchases like trips. Fast food places and cafes see less of my money so that airlines can see more of it lol

[@kauigirl808]

I rather have money in my pocket. Shopping is done.

[@Iquey]

2020 does not feel like 100 years ago. 1929 was nearly 100 years ago.

[@lostinthought5621]

Remember folks, every year you don’t get a pay increase, or your pay increase is less than the inflation rate, you got a pay cut.

[@Andy.mikhail137]

Nobody is going to spend on anything other than necessities for the rest of this decade

[@user-zo2ge3oe8d]

That’s definitely not true

[@caseypenk]

i’m done spending, time to be minimalistic and focus on investments.

[@glennalexon1530]

BNPL schemes are not akin to “layaway”, Bloomberg; they’re a form of consumer financing. Read a book.

[@MEMEEARTH184]

"there's still some pain and there will be more pain to come"