Americans are 'doom spending' — here's why that's a problem
Americans are 'doom spending' — here's why that's a problem
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.
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It's basic Econ 101. People buy more in high inflation periods because they know the same goods will cost more in the future.
ETA: I myself have bought sneakers in future sizes for my kids as well as household consumables and toiletries (meaning, not gifts) this Black Friday.
You make a good point about people who are informed or educated enough to actually recognize that. Ignoring the future vs present worth of money aspect.
There are a shit ton of folks out there who don’t know what inflation actually is. I’d say they probably fall into the doom spending category.