“There’s a credit crisis looming. People are using credit to cover stretched budgets due to higher costs of inflation.”
You’re being charitable. As the economy has taken the nose dive I’ve noticed people haven’t stopped going out to eat. I submit that for a family of 4 eating out costs roughly 4 times what eating at home costs, (assuming you cook and don’t do uber eats).
I think people are much less prone to planning and much more in the moment today. When they want something, that becomes a need, and they do what they have to in order to fill that “need”. Want to go out to eat? It’s a need, so charge it.
I’ve been telling my wife for a couple months now that people are charging like crazy, and the real issue will come in the fall when they want to buy Christmas gifts but their cards are maxed out.
Expect there will be another round of federal charitable giving just in time for the November mid-term elections.
Eating out is costly -- worse, maybe, than owning a boat.
You’re being charitable. As the economy has taken the nose dive I’ve noticed people haven’t stopped going out to eat. I submit that for a family of 4 eating out costs roughly 4 times what eating at home costs, (assuming you cook and don’t do uber eats).
Restaurants and bars here in NorCal are packed. Its hard to believe considering how expensive everything is.
Many have stopped eating out IMO, and many more have down market to cheaper and cheaper market alternatives. Of course Biden intends to spend another 40B to keep eateries in business.