I agree, but assume everybody spends 30% less. The demand goes down for luxury goods. And things get more affordable. Disposable income is about what you can live without. And although I’m obviously not speaking about the poorest among us, most middle class people spend too much and live in debt because they want to keep up with the Joneses.
I agree, but assume everybody spends 30% less. The demand goes down for luxury goods. And things get more affordable. Disposable income is about what you can live without. And although I’m obviously not speaking about the poorest among us, most middle class people spend too much and live in debt because they want to keep up with the Joneses.
I’ve definitely noticed this in the usa. Where I live this is less of an issue fortunately… I might be a little guilty of this though