As financial fears mount, some Americans are "doom spending," or spending money despite their economic and geopolitical concerns, as a way to cope with stress.
You make a good point about people who are informed or educated enough to actually recognize that. Ignoring the future vs present worth of money aspect.
There are a shit ton of folks out there who don’t know what inflation actually is. I’d say they probably fall into the doom spending category.
It’s basic Econ 101. People buy more in high inflation periods because they know the same goods will cost more in the future.
ETA: I myself have bought sneakers in future sizes for my kids as well as household consumables and toiletries (meaning, not gifts) this Black Friday.
You make a good point about people who are informed or educated enough to actually recognize that. Ignoring the future vs present worth of money aspect.
There are a shit ton of folks out there who don’t know what inflation actually is. I’d say they probably fall into the doom spending category.