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this post was submitted on 26 Nov 2023
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Someone feel free to explain these two simultaneous headlines-
Plus people are maxing out debt
Probably this, on the heels of: https://lemmy.world/post/8643298
So spending is probably up, but it's just deepening the debt hole. We'll see where the bottom of that is soon enough...
I'd say you're spot on with this, I'd love to see the stats of spending prior to black Friday... betting it was lower than all last years.
I know no one with a lower rent than my mortgage. Literally no one.
I likely do, nice to meet you.
I also don't pay taxes, maintenance, or homeowners insurance. I only have to pay to insure my things.
You can argue those costs are baked into my $1250 rent, and you're probably right, but I guarantee it's less than your mortgage and associated costs would be where I live.
The Black Friday article in the picture basically explains the last part of your comment. Everyone waited for sales all year and spent now
People who feel bad buy things to feel better. They might not be able to afford a new house or a car or medical care, but they’ll spend something on gifts.
Also, maybe it’s members of the owning class buying things. They’re getting more money all the time, whether the economy does “good” or not. So they’ve always got money to blow on shit.
Plus it specifically says online sales. Online sales could be up 7.5%, but brick and mortar store sales could be down 50% for all we know.
You can buy a tv for cheaper than a loaf of bread.
Jesus, what kind of bread are you eating?
Only the best ritziest! I saved all year for it.
Sure, no problem. Spending rose by 7.5%, inflation until recent months was at 10%. Net real sales is down by 3.5%. People are spending more for less. This is why we are gloomy. Still, I recognize things are getting better on the macro level.