cross-posted from: https://lemmy.world/post/37920401
this post was submitted on 27 Oct 2025
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Also companies are realizing that when people are broke they stop buying luxury stuff and only buy essentials. Like housing. Food. Utilities.
So they are now buying up all the housing. Food production (thanks for tarriffs. All farmers are selling their land) and they are buying power and water companies.
They figure they will drain us one way or the other.
Last time I heard, broad consumer spending decreased but luxury spending is going strong. Increased luxury good demands along with AI bubble is what keeps the US economy out of full blown recession thus far. And as we know, those bubble might pop.