As "YOLO spenders" have financed more and more spending with debt, Rosenberg said the consumer credit default cycle has already arrived.
  • queermunist she/her@lemmy.ml
    36·
    11 months ago

    Maybe, but even then is it YOLO to use credit to buy new clothes for work?

    I’m certain that the data is far more complicated than is being presented.

      • Flying Squid@lemmy.world
        2·
        11 months ago

        You said spending at e-commerce sites and malls. One of the reasons people spend money at malls is to get clothes for work.

        As for e-commerce sites, I’m not sure why you think people go to Amazon just for luxuries.

      • queermunist she/her@lemmy.ml
        16·
        11 months ago

        I started working with welding presses this past year and needed to buy a week’s worth of jeans to meet safety requirements (I didn’t really own jeans before lol)

        Fortunately I had some savings, otherwise I’d have been forced to use credit to buy them before I got my first paycheck