There were a lot of people at the mall. Who says Americans have lost jobs and have no money?
People were lining up to get into Kate Spade, Polo Ralph, Bath & Body works, etc...
Are they doing fine? Who knows?
Christmas is a big event in the US. Great for consumption and more spending.
People are pretty expected to be receiving and giving gifts.
It's interesting to think about it.
How do you easily increase GDP?
If people can only spend within their means, then GDP will be limited to their incomes.
HOWEVER, if debt is freely available for consumption, then GDP can increase, cos people are spending their future earnings NOW.
Maybe 10% of debt may default, but 90% will try to keep up with the payments. So overall consumption increases. GDP is high, well done.
I really do wonder. I mean, we aren't out of the woods yet.
The vaccine is available and will slowly be rolled out. It's not as if everyone has been vaccinated.
But somehow the impression is that things are getting better.
No, not really, things aren't better. COVID rates are at the highest in the US since the start of COVID.
Do those folks at the outlet mall really have the means to spend the way they do?
Shouldn't they be tightening their belts and saving more for emergency?
I'd have thought that there would be less people. It was crowded.
Different life, different values?
Personally I don't like receiving or giving gifts.
Cos if I receive, means I have to return.
But I don't really have anything I want. Anything I need, I have already bought. So I don't really want to receive anything. Else I would need to return a gift.
It's been 2 years since I posted about this.
Last year I was in France. Maybe I didn't walk around as much during the Christmas period, cos I was avoiding the crowd, so I didn't get the feelings of unnecessary wonton spending.
Well... one can enjoy the festive period by having a nice meal with family without having to spend excess money on STUFF.
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