I think this is a real bad indicator. We are not in a recession, we’re in the early stages of a depression, a contraction just happened and I do not for the life of me understand why people cannot see it.
Maybe it is.. Maybe it isn’t.
It could also mean that EVERYBODY is starting to look at their cash flow.
And people do not see value in spending $2-10 more on an identical item.. e.g. paper towels.. to Virtue signal they they shop at the “beautiful people store”.
Or, that those stores charging more just do not add the value they think they do to justify their prices.
Maybe it is.. Maybe it isn’t.
It could also mean that EVERYBODY is starting to look at their cash flow.
And people do not see value in spending $2-10 more on an identical item.. e.g. paper towels.. to Virtue signal they they shop at the “beautiful people store”.
Or, that those stores charging more just do not add the value they think they do to justify their prices.
Because no matter what they say, most people do not understand inflation.
If inflation is at 10% a business needs to see sales increase 10% just to tread water.
This is also going to lead to more job churn in the market as workers jump jobs trying to keep up with inflation.
“a contraction just happened and I do not for the life of me understand why people cannot see it.”
(we’re in the early stages of a depression)
You are correct.
(a contraction just happened and I do not for the life of me understand why people cannot see it.)
They have Covid-19(84) brain. A desire (completely understandable) to have things return to “normal” when in fact those days, sadly, will never return.
Not even 2004 levels. Not even 2019 levels.