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Can someone enlighten me on the effects this will have on the economy? IANA economist, but it feels like I'm still relatively net-zero with my spending. My fa
by bentcorner 7y ago
Can someone enlighten me on the effects this will have on the economy?
IANA economist, but it feels like I'm still relatively net-zero with my spending. My family didn't go out to eat, we spent less on gas, but we spent more on groceries at our local grocery store, and there's a little more in our bank account.
People in the hospitality/tourism industry are certainly going through a lot of pain. If people didn't spend money in those sectors, where did it go?
- SomewhatLikely 7y agoThe money doesn't have to go anywhere. Even slowing down how many hands a dollar passes through in a year leads to a contraction. More info here: https://www.investopedia.com/terms/v/velocity.asp https://www.investopedia.com/terms/v/velocity.asp