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News@lemmy.world · 27 days ago

Consumers are so demoralized by inflation and high rates they've given up on saving for the American Dream and are spending money instead, economist says

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Consumers are so demoralized by inflation and high rates they've given up on saving for the American Dream and are spending money instead, economist says

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News@lemmy.world · 27 days ago

"This positive spending is not a reflection of some sort of internalized secret sense of confidence that consumers have."

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27 days ago
To add to this, the rule of thumb in the UK is your maximum loan is 4.5x your salary.

The average worker could borrow about £157,000.

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