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You seriously want to toss out travel spending as an indicator of how well things are going for the general population? Travel is a luxury, and rich people are
by mberning 3y ago
You seriously want to toss out travel spending as an indicator of how well things are going for the general population? Travel is a luxury, and rich people are not hurting yet. The people at the bottom of the economy ,your average walmart and target shopper, is who is hurting. Also, raw dollars is not a good metric for how much stuff is being bought. Sales in dollars can be way up, but the amount or quantity of goods can be flat or down when those goods are being purchased with a rapidly debased currency.
- chii 3y ago> goods are being purchased with a rapidly debased currency. so you can check if the increase is caused by debasement by looking at the inflation; if the increase in sales dollars is higher than inflation, it means that the debasement isn't an explanation of the increase in sales figures.
- listenallyall 3y agoI've been on a lot of flights lately, and in a lot of tourist towns. It ain't all rich people.
- noduerme 3y ago>> goods are being purchased with a rapidly debased currency cheaper goods re-base the currency. Cheaper goods is deflationary. There is no such situation where raw dollars buy more today and are worth less than they were yesterday; that would be an oxymoron. Of course dollars aren't a great metric for wealth, because they float around like any other fiat currency. But if your Big Mac Index buys you an extra Big Mac, whether because supply increased or demand decreased or shipping just got 90% cheaper, that's the opposite of inflation.
- matwood 3y agoThere are always struggling segments of the population, but travel is less of a luxury than it has ever been. I talk to and have gotten to know the people who work at the local stores I frequent, and I've been surprised by the number of them who want to talk about their recent travel.