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But, then the news mentions the fact that people are tapping 401Ks and credit cards. The card debt is the highest in a long time. The reason...people refuse to cut back, do without, or economize.
Now, jobs go begging. Yet the unemployment is down. Maybe..just maybe..it is because in summer, there are a ton of temporary jobs to fill the needs of tourism? And maybe, comes fall and cold, those jobs will go bye bye?
People will run out of disposable money. Max out the credit cards which it seems, they can't figure out they WILL have to pay the piper.
Went to wally world for the first time in months and months. Prices on some goods are still out of line to what I will pay. Bite me! Don't need, won't buy. The super center has done a total make over. The old game of hunt for it and by the way, buy this you passed on the hunt. There are a bunch more checkouts...double rowed. Self service was used but the bulk were in the checker ones. Now why add a gazillion registers when they only open a few?
I saw more shoppers buying a few items than full carts. I found a throw on clearance that I looked for on sale last FALL. So they still hadn't sold and after 6 months gave in. Prices are high..1.58 for a dozen eggs when others are at a buck. I have hens so don't really care.
I predict this winter brandons dreams will go down the toilet. People will be laid off or fired. Heating costs will hit people. People will run out of disposable cash and hunker down for winter. This will cause concern so it will snowball as people are filled with doubts about a recession.