So desperate to dismiss strong consumer spending numbers, they're calling it "doom spending"

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...the hoot is that we're supposedly so distressed about the economy (notwithstanding its record employment and growth), and so bugged about 'foreign affairs and geopolitical concerns' that we're spending more to soothe our fears.

In a republican administration an increase in spending is called consumer confidence. For this Democratic administration it's made out to be some kind of fault.

What's actually happening here is a pathetic case of denial by these financial evangelists - an arrogant pout that consumers aren't paying attention to their 'doom casting' news reports about the price of burgers and eggs.

You can be reliably assured of this because of a recent survey done by 'Intuit Credit Karma' (a real name).

...here you go:

Even as inflation and high interest rates have squeezed budgets, a record 200 million shoppers turned out between Black Friday and Cyber Monday, according to the National Retail Federation. This season, holiday spending is expected to reach record levels, totaling up to $966.6 billion, the NRF projects.

“Much like doom scrolling, we’re seeing people mindlessly shop to soothe concerns about the economy and foreign affairs, which could take a toll on their financial wellbeing,” said Courtney Alev, Credit Karma’s consumer financial advocate.
https://www.cnbc.com/2023/11/29/americans-are-doom-spending-heres-why-thats-a-problem.html

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