As "YOLO spenders" have financed more and more spending with debt, Rosenberg said the consumer credit default cycle has already arrived.
  • Semi-Hemi-Demigod@kbin.social
    30·
    9 months ago

    I don’t blame them. There’s entire industries devoted to getting people to impulse buy. Almost $300 billion a year to convince us to buy things we otherwise wouldn’t. And that’s just for advertising alone.