Consumers Shift Spending to Pay for Basic Staples, Citi CFO Says
Consumers Shift Spending to Pay for Basic Staples, Citi CFO Says
Credit losses are rising as US consumers shift spending to basic needs and away from purchases that aren’t vital, according to Citigroup Inc. Chief Financial Officer Mark Mason.
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This is the Free Market at work deciding that the healthiest state for an economy is one where people can barely afford basic needs with no money left over for anything else.
But I thought it was supposed to create property and plenty for everyone
Providing maximum profit for minimum services!
“Not to worry, rich people will do all the consumer spending that keeps our economy afloat FOR US! That’s right, the most miserly demographic will consume for the economy, so don’t worry your pretty little heads and enjoy having less money, peasant! Porky needs it!”
the future of the economy is the last five living humans, all billionaires, taking turns buying and selling the world's last megayacht