U.S. Economy Shrinks at 4.8% Pace, Signaling Start of Recession

Re:U.S. Economy Shrinks at 4.8% Pace, Signaling Start of Rec... by SpicyLemonZest on Wednesday April 29, 2020 @11:32AM (#23020414)

The number of people who say they're going to is vastly lower, certainly. But I don't think that people's attitudes during a mandatory stay at home order are reflective of what we'll actually do once it's clear the worst is behind us.

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Re:U.S. Economy Shrinks at 4.8% Pace, Signaling Start of Rec... by matthewdgreen on Wednesday April 29, 2020 @11:46AM (#23020580)

My point is that many of these people are enduring real financial hardship. Many have already lost jobs or taken major pay cuts. The ones who haven't lost them are afraid of it, and diverting more money into savings and away from discretionary purchases. I assume the people I know are probably more white-collar and in relatively safer jobs than the general population, which (looking only at today's unemployment numbers) is bleeding badly.

This isn't about what people want to do. It's about what they will be able to afford to do.

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Re:U.S. Economy Shrinks at 4.8% Pace, Signaling Start of Rec... by SpicyLemonZest on Wednesday April 29, 2020 @11:58AM (#23020725)

Sure, and I agree that people can't afford to consume as much right this second. The question is what it'll look like in 3 months.

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