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Hold onto your hats though when companies release results next quarter (in early July). Consumer spending is way down across the board (everything from applian
by canada_dry 7y ago
Hold onto your hats though when companies release results next quarter (in early July).
Consumer spending is way down across the board (everything from appliances to travel). Early indications are the stimulus checks are being saved or used to pay off existing debt - not consuming/purchasing.
The ripple effect of this sudden drop will likely be unprecedented.
- himinlomax 7y agoThat's because it's not a stimulus cheque. It's an insurance payment. You can't stimulate the economy while you're (for good reasons) shutting it down. I don't know how it is in the US but here in France I can't even go buy an appliance, or to the restaurant, or even get a fucking haircut.
- SllX 7y agoBasically the same here with variations across different State and local jurisdictions.