"This positive spending is not a reflection of some sort of internalized secret sense of confidence that consumers have."

An economist offered an explanation for a paradox that has emerged in recent data showing that spending has remained robust even as consumers report feeling pessimistic.

Joanne Hsu, who is the director of the University of Michigan’s consumer sentiment survey, told CNBC on Friday that she thinks Americans have abandoned plans to save money as they see their financial goals look less attainable and are spending money instead.

“This positive spending is not a reflection of some sort of internalized secret sense of confidence that consumers have,” he explained. “And instead my interpretation is that consumers see that a lot of aspirational goals that we talk about as part of the American Dream—homeownership, paying for college, paying for college for your kids, having a comfortable retirement—with high prices and high interest rates right now, those aspirational goals just feel increasingly out of reach.”

  • Hacksaw@lemmy.ca
    5·
    7 months ago

    This is the kind of comment that the other dude was talking about. “I’m so smart I wish I was dumber” that’s cringe af. Use some of that intelligence to put a bit more empathy in your replies. Communication is about two people.

    Even if it were true, telling someone you’re so smart you wish you were dumber says so many things that harm your ability to communicate clearly:

    • it’s likely I’m smarter than you
    • if you don’t agree with me it’s probably because you don’t understand. This is also supported by your statement that you’re happy people will see your downvoted comments
    • It hints that you’re probably not willing to engage with other people’s ideas because you might feel they’re beneath you
    • because you don’t see this discussion as being between peers (see the first point) you’re likely to be patronising

    Even if you are so smart, and so right about these topics, the way you communicate actively impairs your message. If you read your messages through the eyes of a slightly insecure audience you’ll be able to fix these issues. Empathetic communication means you can say a lot of the same things and have people be receptive to your message instead of put off by your demeanor.

    • givesomefucks@lemmy.worldEnglish
      3·
      7 months ago

      the way you communicate actively impairs your message

      …

      I look at this when I have a few minutes down time throughout the day.

      If you think one person venting on a low traffic social media platform is going to have a substantial effect on anything regardless of how nice they say something…

      I dunno man, but I feel like we don’t have to get into a “who’s smarter” argument

      Take my silence as a victory, consider it a gift man.