"Covid showed all of us that life doesn’t go on forever." That's what a market strategist told CNN about the state of the American consumer. After the pandemic, she claims a YOLO – "you only live once" – mindset took off. We splurged on luxury items and experiences. But now, the economy appears to be slowing, and things, again, are changing.
With the highest inflation in decades and shrinking savings, we’re spending less. Retail giants have noticed, as I’ve shared with you here, Wal-mart and Target are dropping prices to appeal to suddenly thrifty shoppers.
So what happened? Some say Americans have simply had their fill of post-Covid freedom and are ready to settle back into more normal routines. That, a feeling of, "How long can I live in this post-Covid state?" is setting in. Sure. Maybe. But that can’t be the entire story.
As I see it, job opportunities aren't as plentiful as before, and a lot of us are behind on our credit cards. At the same time, the reins are being pulled on workers as we are called back to offices, and remote work is harder to find.
What’s your take? Are you pulling back on spending? How has your outlook changed post-Covid?
Let’s dive deeper into this topic online at jamesbrowntv.substack.com.
On that note, I’m James Brown, and as always, be well
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