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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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49711032 No.49711032 [Reply] [Original]

why wont wagies stop spending?

don't they know they need to save up for when they lose their job in a couple of weeks? why does demand destruction take so long?

>> No.49711176

> be wagie
> prices go up
> i'll just put it on credit card
> lose job
> cant pay debt

why do wagies always try to crash the economy by doing dumb shit like this. cant they just not have starbucks when the price goes up

>> No.49711221

>>49711032
>lose their job
We cant get staff. No one can. No one is losing their job. The money people have is losing value rapidly. Spend now and be glad to have something for it.

We are in stagflation country.

>> No.49711325

>>49711221
the fed is raising rates until business either do layoff or go bankrupt

>> No.49711414

>>49711325
That affects borrowers. Less so cash in hand businesses.

>> No.49711459

>>49711414
that affects wagies cus they lose their job.

>> No.49711496

>>49711459
They will try to tailor the interest rates to slow inflation while keeping employment high. This could take a few years.

>> No.49712023

>>49711496
nah. they can do it slow and long-term or fast and short term. The fed chose fast and short term

>> No.49712186

>>49712023
>0.75% is high
The party is over. Time for withdrawal symptoms.
I was blessed to only come into money shortly before this. I used most of it wisely and ill grow out of this as things recover instead of being wiped out.

>> No.49712310
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49712310

>Be midwit BS engi wagie
>Have student loans because parents poor
>Save up enough money to pay them all off since they've been frozen since 2019 @ 0% interest and no obligation to pay
>Have a thick as fuck saving account for one big charge off
>Don't listen to "y... yer loosing monoe of yer not on de market" fags
>As a result I could live for almost a year on my savings alone
Feels good man.

>> No.49712343

>>49712186
annualize the amount. 0.75% annualized is a 6% per year increase. (theres 8 fed meetings per year)