Why Americans' 'YOLO' spending spree baffles economists

[Sir Richard Spirit]

Although this year, people have drawn down their savings, many consumers still have money in their reserves – some for the first time ever – and they're willing to spend it now, even as they don't have faith in a full economic rebound.

Hold the fukk up.. the coli told me everyone was broke

 

[feelosofer]

Some Gen X, maybe half of millenials and most Gen Z won't have 3 or 4 million dollars saved up to have a proper retirement so might as well get it in.

 

[Gritsngravy]

it’s a dopamine rush

 

[Sauce Mane]

Because Americans love to stunt

People out here got $1k car notes when they could barely afford rent

Make it make sense

 

[Hater Eraser]

Too much cool shyt out now

 

[Gritsngravy]

And is they taking into account the inflation of prices

 

[Gritsngravy]

For the last 2 years this youtuber I watch has been saying it's a recession and the economy is messed up, but when I'm outside I see people (me included) running through money

What about the layoffs and the union fights , or the fact that banks are literally on thin ice right now

 

[MikelArteta]

covid opened up eyes for alot of folks, you can die any day, the world can change any day. Don't put stuff off enjoy and live your life

dont store up your treasures on earth where moth.....

 

[Trojan 24]

For the last 2 years this youtuber I watch has been saying it's a recession and the economy is messed up, but when I'm outside I see people (me included) running through money

They running thru credit

 

[hashmander]

Right

According to economist John Moore: What's killing the economy and killing families right now is that for roughly the last year or 14 months or so, inflation is up about 8% and wages are up about 5%. So that means families in real terms are 3% poor than they were when Biden came into office.

When the U.S. intervened with Russia, this prices of goods has increased. The price of eggs went up 33.1%, meat 8.2%, gasoline 59.9%, used cars 7.1% and air travel 34.1%.

Biden being pimped by Zelenskyy was drastic. Since that war began, the Biden administration and the U.S. Congress have directed more than $75 billion in assistance to Ukraine, which includes humanitarian, financial, and military support, according to the Kiel Institute for the World Economy, a German research institute.

How Much Aid Has the U.S. Sent Ukraine? Here Are Six Charts.

The positives of today's economy is Unemployment numbers at 3.6%, when you look at the jobs numbers, more than 8.7 million of new jobs created, that is important.

The Truth about Joe Biden's Economy

heritage foundation babble

 

[MegaTronBomb!]

Economists as a whole are weirdos who live in a bubble... but to think that people were going to be frugal and hope that the last 15-20 years of their live will be available for them to do whatever their heart desires is insane considering the last few years.

 

[The Guru]

I think this comes from not having hope of a chance to build long term anyway..so going for instant gratification instead.

 

[newarkhiphop]

Hold the fukk up.. the coli told me everyone was broke

my dad told me this years ago, ain't nobody broke clubs and bars are FULL every weekend

 

[NoirDynosaur]

covid opened up eyes for alot of folks, you can die any day, the world can change any day. Don't put stuff off enjoy and live your life

dont store up your treasures on earth where moth.....

During Covid-19, cryptocurrency and stocks was at its prime

Bitcoin, Ethereum and Dogecoin was turning folks into digital millionaires. Those who missed the slot missed a golden opportunity.

 

[Trojan 24]

my dad told me this years ago, ain't nobody broke clubs and bars are FULL every weekend

It's ugly out there, you just can't see it

Americans’ credit card debt hits a record $1 trillion | CNN Business

Americans’ credit card debt levels have just notched a new, but undesirable, milestone: For the first time ever, they’ve surpassed $1 trillion, according to data released Tuesday by the Federal Reserve Bank of New York.

amp.cnn.com