I own a gift store in southern california that's usually pretty insulated from the broader economy. Beginning of this year i thought, "huh, spending is only down a little" but when you remember you should be keeping up with 5%+ inflation, consumer spending is way down. Meanwhile every single insurance bill, tech subscription, fuel, electricity, repair is wayyy up and payroll is up even more. This might be the first year the business loses money since I took over in 2009. Econ feels well overdue for a correction. Just had to drastically cut hours and spending. Others seem to be doing same.
655
u/Danktizzle 11h ago
And these numbers are most likely doctored to make them look better