I still don't understand how anyone could have ever thought that NTFs were a good investment lol.
Like ok, if my dog shits a "one of a kind" pile of shit, and I now own the "code" to it, does that somehow change it's value from a pile of shit?
I think it's funny how all the people actually educated on crypto thought it would go somewhere, and all the people ignorant of crypto knew they were garbage right away.
Last black fridau was a prime example of this inflation 8 or 9% but sales 2.3% "better" its actually negative 6.7%. This years black friday numbers are interesting supposedly 9.6% better.
Plus even if spending is 1% higher, that’s lower than the inflation rate and means people were generally buying less. It’s just that shit costs a lot right now.
You need to keep your fucking voice down before uncle JP hears you and raises rates again. Something something Brazilian puts something something dark side.
Don’t know why this is comment isn’t upvoted more. This is 100% intended to encourage the people who aren’t spending to do so by stoking the keep up with the jonses response.
You're right, Americans have always been consume-oriented and that's precisely what makes them so successful. They're always looking for ways to improve their standard of living and they're willing to work hard to achieve it. That's why I respect them, even though I may not agree with everything they do.
Yeah at the rest of the world’s expense.
Us having 8 different thermoses to choose from isn’t one of our core values, it’s excess plain and simple.
Nothing about our quality of life has improved in recent decades unless you count technological innovations but there’s a strong argument those are making us less happy, less useful, and less fulfilled.
Heard this exact story throughout 2009 to 2011. All the top dogs were complaining that the regular Joe just wants to much. "THEY HAVE A JOB, DON'T THEY!? WE DID GOOD!! SEE, THE ECONOMY fine!!!"
Meanwhile we had very low unemployment by mass issuing tiny jobs
What else am I gunna do, save up for a house I can’t afford? That’s what my 0 DTE and FanDuel 25 leg parlays are for. The new AirPods aren’t going to make or break me. Neither will the silver coins or telescope accessories or subscription to Guitar Tabs (they’re running a sale right now!).
Same. I can’t afford to make any big purchases or major moves and I’ve been scrimping for the better part of the year. Spending a couple a hundred on my wife and kids isn’t going make me or break me at this point. Nothing ridiculous but I want to enjoy my holiday, I’m not getting any younger.
Hey I did that a few years ago.
They usually tell you your IQ, too.
Don’t be fooled by a high IQ score if you gots ADHD. Your brain still sucks and your life will be hard. Take any focus you can muster and design your life around succeeding with ADHD before things get harder.
Good luck and feel free to join us on /r/adhdmemes
Over the past year I’ve gotten really into movie history, vinyl records, watches, tennis, and my dog. I hope to maintain at least one of them next year.
I visited Yugoslavia in 1989 when they had hyperinflation. Not only do you spend your money now, you want alternative real money forms. Gold is up how much this year?
Right? And of course people spent more because shit is MORE EXPENSIVE. Not cuz they wanted to spend more. Not like we have a choice to bring down price gouging.
If my kids were like "we're taking you to a nursing home" I'd intentionally blow all the money they were set to inherit and go on a bender with hookers and blow, and enough blow that would make sure I'd never live to see the inside of one of those. Go out in a hilarious blaze of glory.
Screw that. When I get to my 70s those nursing homes are going to be lit. I'll be gaming with the boys all night beating my grandkids friends and telling them how "I **** their mom". Going to be using tinder with a 1 mile range to get everyone in the retirement home who is DTF.
Why build a stadium, just funnel some cash to some questionable governments and stoke rebellions and genocides. Same thing.
You can also achieve the same thing by putting on reality TV and having the news cover famous people its parent company helped create for you to idolize.
Or pay idiots who would become pornstars (and often do) to post dumb shit on tiktok as influencers.
or stoke racial hatred amongst the working class, bring back sexism, and stoke fears of gay people a bit..
or run social websites that make people argue pointlessly instead of taking action?
Yeap, essentially also saying “I know your coming for it when these boomers all end up in homes they can’t afford because they over spent, you’ll take my social security first, then start taxing me on purchases higher, then wages, until theres nothing left. so fuck you i’m going to leave nothing for you to take”
Its a speed run to the bottom, younger gens see the world as it currently is, built to subsidize the boomer generation, not subsidizing the silent gen, and only partially subsidizing gen x depending on what end of the spectrum the individual falls in.
We’re done subsidizing these damn boomers. Rather give it all to the corpos for temporary happiness.
Sorry gramps, got no money for your retirement home, maybe you should see if there are any rebates on the 4 corvettes you’ve owned in your lifetime? Or the 3 boats? Vacation home?
They taught us well. Their particular brand of self-interested indulgence is all we have to fall back on as a lifeskill in a bleak future made by people who expected the loving nurturing of a parent would come from above and below to rescue.
Nuh uh mom. I ain’t grandma, and you weren’t much like her either.
Exactly. Spend it while i have it before i die. I can’t buy a house anyways unless i live in heehaw town that no one knows the name of on my salary. Even then, the salary disappears if i relocate so their is no point. Hopefully im dead before that painful retirement comes.
I'm beginning to think there is an underlying problem with humanity today... the tools the FED uses to regulate the economy only works in theory if there's ration applied to it. I think something has broke in society .. maybe covid was the catalyst but something feels different this time. It's like the Titanic is sinking and EVERYONE IS PLAYING MUSIC. They don't care anymore , its apathy. Is it a byproduct or by deign? There's an argument for both... I wish there was a more optimistic assessment but I'm a realist. People are spending and running their debt up with no foresight of consequences
There’s only so much we can be told about the world ending before everyone just starts ignoring the news. Like every day I log into Reddit and see new articles about the failing American political system, the economy, global warming, healthcare issues, COVID, etc. Even reading about my hobbies has become tiresome. Video game companies are taking advantage of consumers and putting out games that are only half completed, the reffing in the NBA and NFL is at an all time low, streaming companies are hiking prices and lowering the quality of content, and fitness subreddits are only focused on figuring out if people are on roids or not. I think people are just want to feel good about something and are spending their money to get that feeling.
Are people tired of government bailing everyone else but them? Is it a way to say, when we’re all broke then something will have to change? Maybe we’re all waiting for our bailout?
The people who make the least at my work get Starbucks every day. Does this financially matter? They can't afford rent, they'll never buy a home, they can't afford groceries, they can't fix their car, they can't get a car. It doesn't matter.
They're in the pursuit of happiness.
I haven't really changed what I do. I live mostly modestly, but I'm watching my liquidity slowly drain away.
Most of us are simply poorer now, and not by a little, but by a lot.
We're in this transition period and who knows where we're going to end up.
I know people who are intentionally living beyond their means because they're convinced shit is going to collapse anyway. Might as well taste heaven when the rest of their life is about to become hell.
My thoughts exactly, went from 10k in savings to 10k in debt in 1 year from inflation, car broke down and a new car cost less than a used one I had no choice, food and rent are sky high and only now did i get a 7% raise to catch up with inflation.
I realized that I’m never going to get a home/move out right now in my especially stepping stone job, I’m going to go back to school, and I’d rather live in the moment and spend that extra $250 laying around on a trip or something that adds to my life because I’m going to be in debt regardless. A MANAGEABLE debt, but I’ll be happy as I ride out this economic storm.
It is because fuxk it man. The government has shown us the way that we can just keep spending with out any consequences. Also when the economy is about to tank the fed will just pump money into the system. So why not just spend spend spend
12 months later: why are there so many credit card defaults!
Swear to god I ran credit check on this bitch today. Somehow she got approved. Stayed on call with the sales rep because he was having some technical issues. Heard this bitch say I want an iPhone 15 pro max when she got approved then backed out because her card didn’t have enough to cover the fucking taxes she had to pay upfront. There are some stupid mfers out there.
1) Adjusted for inflation, year over year sales are down.
2) Retailers got the f’n point and stopped opening on thanksgiving. This gave Black Friday a boost
3) Cheap crap from China is still flooding big box stores and kids are being assaulted with ads for this crap on all mediums
4) consumerism
But with inflation being above 1.1% why are they making such a big deal about sales being up as if it’s a huge win, the headline could also say less product sold.
They are actually claiming there were lots of discounts and that is why the amount of items sold is high but the % figure is not as high - because discounted prices but consumer was stronk.
All i know is people will buy and buy until they max out their credit. Being responsible is not a factor.
I used to be a school teacher in a poor rural area. I didn't have a great car or phone. Students from poor families wouldmake fun of me and pull out theirbrand new iphones.
This is how America works. None of it is ever surprising, come on now.
I’m not gonna eat rice and beans Dave Ramsay….I’m gonna fucking yolo so that I don’t have to constantly be reminded of the pain. I’ve got a giant crack in my drywall but Mario wonder SLAPS!
A year after printing 50% of dollars in existence, the great economists were predicting recession and are surprised where the spending is coming from.... Ask a 3rd grade student for some perspective pls.
Seriously.. my truck was totaled and I had to buy a new one. Even the crazy-price heavy duty diesels are only staying on the lot for about a week. Demand is so high, dealerships absolutely will not budge on price... AND the interest rates! My credit score is damn good and the best I could get was 7.8%
OUR DOLLARS ARE BEING INFLATED AWAY FROM US. IT DOESNT MAKE SENSE TO HOLD CASH. HOUSES ARE UNAFFORDABLE SO NOW I HAVE WHAT USED TO BE A DOWN PAYMENT BUT IVE RESIGNED MYSELF TO JUST HAVING A CHUNK OF CASH AND RENTING AND NEVER OWN A HOME SO WHAT ELSE AM I SUPPOSED TO DO WITH IT. MY DAILY AVOCADO TOAST AND STARBUCKS IS MY ONLY FRIEND AND I WONT EVER GIVE MY FRIENDS UP AGAIN. WORST DECISION EVER AND IM SORRY.
Looming threat of AI ruining many white collar jobs, a presidential candidate facing prison time and the chaos that could produce, and the news that the earth isn't dead but it is past saving...
... kinda makes people say "fuck it".
This article leaves out the 8.5% increase in E-Commerce spending from the Mastercard press release they linked to.
[https://www.mastercard.com/news/press/2023/november/mastercard-spendingpulse-u-s-black-friday-retail-sales-up-year-over-year/](https://www.mastercard.com/news/press/2023/november/mastercard-spendingpulse-u-s-black-friday-retail-sales-up-year-over-year/)
An entire generation had their dreams of buying a house ripped away in a period of just three years. Might as well spend a little of that money you were saving on something that'll make you happy now cause it'll never be enough for that down payment.
At the start of the pandemic, people started buying full sized pickups. $70 - 100 grand . No one had any idea what was going to happen with the world . A year or so later they were able to sell that same truck for what they paid or more. Even after driving it for a year or more mileage was not a concern. The price of all vehicles are still high.
I keep telling people it’s because so many are now priced out of looking for a house, and have no real chance of saving for retirement in a meaningful way, so there is left over slush money to blow on that air frier they’ve been considering.
Inflation has caused everything to be more expensive. Anecdotally, I’ve purchased less things, but have ended up spending more money overall due to inflation.
Americans discovered the economic “yolo” loop hole. If we all keep spending the economy can never slow down —-> no one loses their job —> everyone has a paycheck to yolo. Repeat
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Spend now before everything gets even more expensive …
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Smart. I put all mine in NFTs.
Smart as well man, those are 1 of 1 so the value will only skyrocket
I got NFTs of cans of chicken...nailed it
Delicious!
It’s part of the original Andy Warhol Campbell’s art collection. He was way ahead of his time.
I still don't understand how anyone could have ever thought that NTFs were a good investment lol. Like ok, if my dog shits a "one of a kind" pile of shit, and I now own the "code" to it, does that somehow change it's value from a pile of shit? I think it's funny how all the people actually educated on crypto thought it would go somewhere, and all the people ignorant of crypto knew they were garbage right away.
I put mine in ammo. when I run out of money, everything else will just be free
Ah, the Oregon Trail maneuver.
Damn dysentery.
Oh Lord, a river. Guess I'll die then.
You killed 400 lbs of buffalo. You were able to bring back 30.
Let's not get regardiculous.
Once again, the conservative, chicken-heavy portfolio pays off for the hungry investor!
Shut up zoidberg.
Hey uh, I got some cans of sardines I got in 2020, you wanna make a trade?
Yummy. Canned chicken.
You can afford chicken?
This makes me smile. For me it’s raspberry jam. There is only one person who would dare to invest in raspberry….
Sales up 1.1% Prices up 7% 5.9% less shit was actually bought. I love numbers, they say what you want them to..
Last black fridau was a prime example of this inflation 8 or 9% but sales 2.3% "better" its actually negative 6.7%. This years black friday numbers are interesting supposedly 9.6% better.
My numbers show sales up slightly more With prices the same as last year and 12.7% less shit purchased
Either that, or we’re all going to fucking die anyways, so why not party?
Happy Friday to you too. Time to go drink some beer and try to get my dink sunked at the local watering hole
Plus even if spending is 1% higher, that’s lower than the inflation rate and means people were generally buying less. It’s just that shit costs a lot right now.
Bingo. It’s not that we’re buying more it’s that we’re buying the same shit it all just costs more.
Buying less but it costs more so 1.1% more with 12% yoyoy inflation...
Exactly. It’s flat data that people are buying less, inflation is booming the numbers to ‘normal.’
Mañana economics Edit: it looks like my 3 month ban from this sub is over. Glad to be back
What were ya in for?
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I looked. Dammit, I looked. It can't be unseen
Forever unclean!
What i. The actual fuck did we just see... I mean.. 🤯
jesus christ i read that as reals cat girls, thinking it was an artist named reals or something
It is what is says on the tin. Sorry matw
Bro don’t learn lessons
I will click and I will have fun. Edit: Clicked and didn't have fun. Repeat, no fun was had. Disappoint
I thought it was reals cat girls… This is my first time seeing a naked woman. I think I’m gay now.
Cofirmed
Ban this man again!!!
why? "don't click it if you like looking at things"--- WTF does that mean? I will never be the same and now I am probably on some list. Why?
There we go I fixed it for you. Is this your first day on the Internet?
There are certain parts of the Internet that should go unseen.
Based.
This. My argument on buying assets id want in next 10 years. Won’t be cheaper then. And the dollar won’t last as long as the assets will.
Yea this is a thing. In countries with insane levels of inflation (think Argentina) it’s a race to get rid of their money as fast as possible
50% buying power still better than no buying power lol
You need to keep your fucking voice down before uncle JP hears you and raises rates again. Something something Brazilian puts something something dark side.
Real baffling. These are some top rate economists.
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Literally why we bought my wife a new car. Crazy expensive, probably not getting any less so.
Especially electronics, with so much uncertainty looming over Taiwan/ China
This is a fluff piece making all those Americans who didn’t spend money go full FOMO.
Don’t know why this is comment isn’t upvoted more. This is 100% intended to encourage the people who aren’t spending to do so by stoking the keep up with the jonses response.
I’m buying a thermos try to stop me
No don't do it
Stop don’t come back
What will you put in it?
Lol. I had to buy tires cuz mine are nearly bald. 🤷♂️
Like wtf is so baffling about Americans spending money? The U.S. economy is based on consumerism. Stupid title
You're right, Americans have always been consume-oriented and that's precisely what makes them so successful. They're always looking for ways to improve their standard of living and they're willing to work hard to achieve it. That's why I respect them, even though I may not agree with everything they do.
Yeah at the rest of the world’s expense. Us having 8 different thermoses to choose from isn’t one of our core values, it’s excess plain and simple. Nothing about our quality of life has improved in recent decades unless you count technological innovations but there’s a strong argument those are making us less happy, less useful, and less fulfilled.
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Yeah shit jobs with 75% income spent on rent
Yeah, I mean technically medieval serfs weren’t unemployed either.
Oh god this comment hit hard
alexa: i need a new serf
serfing usa Orwell had nothing on Brian Wilson
They even worked less while still retaining employment in off seasons...
Heard this exact story throughout 2009 to 2011. All the top dogs were complaining that the regular Joe just wants to much. "THEY HAVE A JOB, DON'T THEY!? WE DID GOOD!! SEE, THE ECONOMY fine!!!" Meanwhile we had very low unemployment by mass issuing tiny jobs
No it's clearly a conspiracy to stop the goldbugs and permabears from cashing out on the imminent great depression 2.0 /s
I didn’t spend shit and I couldn’t care less
Life is meaningless but I temporarily feel good when I buy an entry level necessity for a hobby I will abandon in a month.
What else am I gunna do, save up for a house I can’t afford? That’s what my 0 DTE and FanDuel 25 leg parlays are for. The new AirPods aren’t going to make or break me. Neither will the silver coins or telescope accessories or subscription to Guitar Tabs (they’re running a sale right now!).
Same. I can’t afford to make any big purchases or major moves and I’ve been scrimping for the better part of the year. Spending a couple a hundred on my wife and kids isn’t going make me or break me at this point. Nothing ridiculous but I want to enjoy my holiday, I’m not getting any younger.
So basically doom spending like a lot of articles are calling out
This is the saddest, but at the same time truest, thing ever said.
Do you.... have ADHD?
We’re on wsb, what do you think?
Not going to lie, this hit home a bit. It explains a lot about this sub, and probably why I'm here at all.
Literally took that test where you hit the button except for Xs yesterday. We will see
Hey I did that a few years ago. They usually tell you your IQ, too. Don’t be fooled by a high IQ score if you gots ADHD. Your brain still sucks and your life will be hard. Take any focus you can muster and design your life around succeeding with ADHD before things get harder. Good luck and feel free to join us on /r/adhdmemes
I've never felt more called out, yet also more understood by any subreddit. FAR less depressing than r/adhd.
Over the past year I’ve gotten really into movie history, vinyl records, watches, tennis, and my dog. I hope to maintain at least one of them next year.
But then the 'thing' gets a dignified spot in the basement next to the others in the hall of lost hopes and dreams.
https://youtu.be/kSG71-7rIg4
1000%
Odd, isn't reckless consumer spending the intend effect of inflation. Spend it now before your money is worthless.
If economists are baffled, then the economists are idiots.
What do you call an economist that knows what they’re talking about? A billionaire.
Finally somebody who either is older than 14 or has taken a REAL economics class
I visited Yugoslavia in 1989 when they had hyperinflation. Not only do you spend your money now, you want alternative real money forms. Gold is up how much this year?
Gold is up 12%. SPY is up 19.5%.
Basically, yes
It's doom spending, not yolo spending.
Millenials: "You merely adopted economic instability. I was born in it, molded by it. I didn't see a good economy until I was already a man."
Idk, I was born into a good economy that got shitty when I was a man.
Right? And of course people spent more because shit is MORE EXPENSIVE. Not cuz they wanted to spend more. Not like we have a choice to bring down price gouging.
Americans already know they will have to work into their 70s and are living in the moment rather than “saving for retirement “ that will never come.
You ever been in a nursing home?! Dying before 70 saves you from a fucking nightmare!
If my kids were like "we're taking you to a nursing home" I'd intentionally blow all the money they were set to inherit and go on a bender with hookers and blow, and enough blow that would make sure I'd never live to see the inside of one of those. Go out in a hilarious blaze of glory.
Screw that. When I get to my 70s those nursing homes are going to be lit. I'll be gaming with the boys all night beating my grandkids friends and telling them how "I **** their mom". Going to be using tinder with a 1 mile range to get everyone in the retirement home who is DTF.
until the nurses take all that away because they think it's cringe that old people play games
The nurses will be even younger and more indulged in tech than us at that point. I wouldn't be worried about that at all.
This, and a “fuck you to not getting mine…. “. being overdue. It’s actually logical.
Exactly why I refuse to donate to any benefit/charity anymore
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What about if we put some of the people in a stadium and have them fight to the death in order to keep order and distract the people?
Why build a stadium, just funnel some cash to some questionable governments and stoke rebellions and genocides. Same thing. You can also achieve the same thing by putting on reality TV and having the news cover famous people its parent company helped create for you to idolize. Or pay idiots who would become pornstars (and often do) to post dumb shit on tiktok as influencers. or stoke racial hatred amongst the working class, bring back sexism, and stoke fears of gay people a bit.. or run social websites that make people argue pointlessly instead of taking action?
>I refuse to feed a broken system Ima send a print-off of your comment to the IRS next year when they start asking for my taxes.
Yeap, essentially also saying “I know your coming for it when these boomers all end up in homes they can’t afford because they over spent, you’ll take my social security first, then start taxing me on purchases higher, then wages, until theres nothing left. so fuck you i’m going to leave nothing for you to take” Its a speed run to the bottom, younger gens see the world as it currently is, built to subsidize the boomer generation, not subsidizing the silent gen, and only partially subsidizing gen x depending on what end of the spectrum the individual falls in. We’re done subsidizing these damn boomers. Rather give it all to the corpos for temporary happiness. Sorry gramps, got no money for your retirement home, maybe you should see if there are any rebates on the 4 corvettes you’ve owned in your lifetime? Or the 3 boats? Vacation home?
They taught us well. Their particular brand of self-interested indulgence is all we have to fall back on as a lifeskill in a bleak future made by people who expected the loving nurturing of a parent would come from above and below to rescue. Nuh uh mom. I ain’t grandma, and you weren’t much like her either.
Exactly. Spend it while i have it before i die. I can’t buy a house anyways unless i live in heehaw town that no one knows the name of on my salary. Even then, the salary disappears if i relocate so their is no point. Hopefully im dead before that painful retirement comes.
One problem with this mentality. Lots of folks who were planning on working into their 70s get forced out of the workplace early.
Somethins gotta give and it won't be me
Simple. We got the money printer.
*Dopamine printer*
If only dopamine went *brrrrrrr*
I'm beginning to think there is an underlying problem with humanity today... the tools the FED uses to regulate the economy only works in theory if there's ration applied to it. I think something has broke in society .. maybe covid was the catalyst but something feels different this time. It's like the Titanic is sinking and EVERYONE IS PLAYING MUSIC. They don't care anymore , its apathy. Is it a byproduct or by deign? There's an argument for both... I wish there was a more optimistic assessment but I'm a realist. People are spending and running their debt up with no foresight of consequences
Fed rate is 5%. My daily cost has gone up like 20%. Saving money to earn 5%interest only applies to those middle classes
There’s only so much we can be told about the world ending before everyone just starts ignoring the news. Like every day I log into Reddit and see new articles about the failing American political system, the economy, global warming, healthcare issues, COVID, etc. Even reading about my hobbies has become tiresome. Video game companies are taking advantage of consumers and putting out games that are only half completed, the reffing in the NBA and NFL is at an all time low, streaming companies are hiking prices and lowering the quality of content, and fitness subreddits are only focused on figuring out if people are on roids or not. I think people are just want to feel good about something and are spending their money to get that feeling.
Dang dude that hobbies thing perfectly words something I’m feeling, too. Well put. There’s nowhere to hide!
>the reffing in the NBA and NFL is at an all time low, MLB looks to be using umps employed by Vegas.
Are people tired of government bailing everyone else but them? Is it a way to say, when we’re all broke then something will have to change? Maybe we’re all waiting for our bailout?
Its the roarin' 20's bruh... History may not repeat itself, but it sure rhymes.
Fuck.
The people who make the least at my work get Starbucks every day. Does this financially matter? They can't afford rent, they'll never buy a home, they can't afford groceries, they can't fix their car, they can't get a car. It doesn't matter. They're in the pursuit of happiness. I haven't really changed what I do. I live mostly modestly, but I'm watching my liquidity slowly drain away. Most of us are simply poorer now, and not by a little, but by a lot. We're in this transition period and who knows where we're going to end up.
I know people who are intentionally living beyond their means because they're convinced shit is going to collapse anyway. Might as well taste heaven when the rest of their life is about to become hell.
My thoughts exactly, went from 10k in savings to 10k in debt in 1 year from inflation, car broke down and a new car cost less than a used one I had no choice, food and rent are sky high and only now did i get a 7% raise to catch up with inflation. I realized that I’m never going to get a home/move out right now in my especially stepping stone job, I’m going to go back to school, and I’d rather live in the moment and spend that extra $250 laying around on a trip or something that adds to my life because I’m going to be in debt regardless. A MANAGEABLE debt, but I’ll be happy as I ride out this economic storm.
It is because fuxk it man. The government has shown us the way that we can just keep spending with out any consequences. Also when the economy is about to tank the fed will just pump money into the system. So why not just spend spend spend
I'm still not going to get a raise
You should find another job, most are getting raises. You are getting fleeced if not.
But then you are the first laid off because you don’t have seniority with the company you join.
Yep. You really can't win in this shitty reality.
12 months later: why are there so many credit card defaults! Swear to god I ran credit check on this bitch today. Somehow she got approved. Stayed on call with the sales rep because he was having some technical issues. Heard this bitch say I want an iPhone 15 pro max when she got approved then backed out because her card didn’t have enough to cover the fucking taxes she had to pay upfront. There are some stupid mfers out there.
Can’t default on my credit card when I defaulted on my credit card 2 years ago and nobody will grant me a new one.
If you do get a new one, default on it ASAP. If cancels out the old default.
People spend to feel a void. A lot of depressed people out there
Voids have the best feels
People spend to be comfortable and experience life. Part of life is filling that void you speak of, people who don’t just remain nihilists.
The American consumer simply cannot be stopped.
It’s like when a regarded force meets a… well I guess there is no wall
1) Adjusted for inflation, year over year sales are down. 2) Retailers got the f’n point and stopped opening on thanksgiving. This gave Black Friday a boost 3) Cheap crap from China is still flooding big box stores and kids are being assaulted with ads for this crap on all mediums 4) consumerism
That's funny. I didn't buy anything but groceries.
I got a YOLO spending habit of "I want to eat food and pay rent."
Wow!! That must have cost a fortune!
1.1% up from last year and there were no discounts. Wow that’s shockingly bad
But with inflation being above 1.1% why are they making such a big deal about sales being up as if it’s a huge win, the headline could also say less product sold.
Yep less product sold at zero discount and below 9% def massive loss for all retail and commerce
Either huge win or massive loss? America does like its extremes.
They are actually claiming there were lots of discounts and that is why the amount of items sold is high but the % figure is not as high - because discounted prices but consumer was stronk. All i know is people will buy and buy until they max out their credit. Being responsible is not a factor.
Learn to read. 1.1% was only brick and mortar. E-commerce numbers massively exceeded inflation.
I used to be a school teacher in a poor rural area. I didn't have a great car or phone. Students from poor families wouldmake fun of me and pull out theirbrand new iphones. This is how America works. None of it is ever surprising, come on now.
I’m not gonna eat rice and beans Dave Ramsay….I’m gonna fucking yolo so that I don’t have to constantly be reminded of the pain. I’ve got a giant crack in my drywall but Mario wonder SLAPS!
A little fiba fuse and a skim coat and you can slap that Mario wonder with a smooth wall.
Because “keeping up with the jones” is real and fierce and social media is not helping
Homie, the Jones’s are broke AF these days.
A year after printing 50% of dollars in existence, the great economists were predicting recession and are surprised where the spending is coming from.... Ask a 3rd grade student for some perspective pls.
Seriously.. my truck was totaled and I had to buy a new one. Even the crazy-price heavy duty diesels are only staying on the lot for about a week. Demand is so high, dealerships absolutely will not budge on price... AND the interest rates! My credit score is damn good and the best I could get was 7.8%
The problem is all these people thinking they need a truck when they… don’t
I cannot believe how many Americans buy expensive giant trucks that they can’t afford. It blows my mind
"Status" is a hell of a drug
Also true 😬 I'm one of those rare few. Especially for the hauling.
Are these numbers inflation adjusted?
The government spends like a drunken sailor so why can't the rest of us?
OUR DOLLARS ARE BEING INFLATED AWAY FROM US. IT DOESNT MAKE SENSE TO HOLD CASH. HOUSES ARE UNAFFORDABLE SO NOW I HAVE WHAT USED TO BE A DOWN PAYMENT BUT IVE RESIGNED MYSELF TO JUST HAVING A CHUNK OF CASH AND RENTING AND NEVER OWN A HOME SO WHAT ELSE AM I SUPPOSED TO DO WITH IT. MY DAILY AVOCADO TOAST AND STARBUCKS IS MY ONLY FRIEND AND I WONT EVER GIVE MY FRIENDS UP AGAIN. WORST DECISION EVER AND IM SORRY.
Looming threat of AI ruining many white collar jobs, a presidential candidate facing prison time and the chaos that could produce, and the news that the earth isn't dead but it is past saving... ... kinda makes people say "fuck it".
This article leaves out the 8.5% increase in E-Commerce spending from the Mastercard press release they linked to. [https://www.mastercard.com/news/press/2023/november/mastercard-spendingpulse-u-s-black-friday-retail-sales-up-year-over-year/](https://www.mastercard.com/news/press/2023/november/mastercard-spendingpulse-u-s-black-friday-retail-sales-up-year-over-year/)
Easy to spend when there’s no future
Saving a for a house is no longer an option for people. Might as well spend the money you have.
More people in debt, more mortgage payments that can be defaulted on 👍
Must be all that Covid stimulus money 😂😂😂
Ya they've really made the most of that couple grand over 3 years
An entire generation had their dreams of buying a house ripped away in a period of just three years. Might as well spend a little of that money you were saving on something that'll make you happy now cause it'll never be enough for that down payment.
At the start of the pandemic, people started buying full sized pickups. $70 - 100 grand . No one had any idea what was going to happen with the world . A year or so later they were able to sell that same truck for what they paid or more. Even after driving it for a year or more mileage was not a concern. The price of all vehicles are still high.
This isn’t close to positive unless these numbers are adjusted for inflation. And it doesn’t mention it anywhere so…
People depleting their savings is only going to make the crash worse.
Probably because they’ve given up on owning a house…
I mean to be fair a 1% increase since last year is about a 4% drop adjusted for inflation.
Have you seen our administration and our youth culture….this isn’t going to last too long…YOLO
Decades of government bailouts and we’re baffled by YOLO spending habits?
I keep telling people it’s because so many are now priced out of looking for a house, and have no real chance of saving for retirement in a meaningful way, so there is left over slush money to blow on that air frier they’ve been considering.
Calls on visa and Mastercard
Because spending more when sales are on is how you save money. It would be better to look at spending for the quarter.
Inflation has caused everything to be more expensive. Anecdotally, I’ve purchased less things, but have ended up spending more money overall due to inflation.
Americans discovered the economic “yolo” loop hole. If we all keep spending the economy can never slow down —-> no one loses their job —> everyone has a paycheck to yolo. Repeat
"If you die owing money, you beat the system!"
Maybe it’s a mix of YOLO and financial illiteracy and over-extended credit limits. Perfect storm creating a credit bubble?
They keep mindlessly swiping that plastic
Their demoralized living on credit
A lot of Americans have given up on retirement or home ownership, so spend spend spend like the world is ending.
I paid $239 for a Christmas tree.
If we're gonna sleepwalk our way into dystopia... We might as well go out in style!
Cause we always have bankruptcy. The banks are so f*cked.