The Money Crunch: Are You Affected?
November 23rd, 2008
You might have read that title and wondered, why would I even ask. Well, I was just wondering, because when we stopped by The Shops at Riverside last night, it looked like the shoe section at Bloomingdale’s was still as packed with shoppers as it usually is every holiday shopping season, with people trying on everything from $80 Calvin Klein slingbacks to $200 pom-pom adorned Uggs and $450 Marc Jacobs pumps.
Now, I’m not sure if everyone was actually buying merchandise, or simply window shopping, but if the number of little, medium and big brown bags were any indication, these people were shopping, shopping, shopping. Okay, so the sweet deals and sales being offered by big names in the name of moving merchandise probably has everything to do with it.
The reason why I pose this question is because I’m really interested to know how many people are actually so completely affected by the recession in a way that’s truly forcing you to change your spending habits.
The mortgage crisis and the veritable credit freeze is hard evidence that many people took on more debt than they were able to actually handle. What do you think? Are people ignoring the “CAUTION” signs, or is it just that maybe, just maybe, many people just aren’t as bad off as we’re reading about?…Like…many of those who have been fiscally responsible all along and like to spend cash as opposed to burning the plastic, not buying non-necessities they’re actually unable to afford… Yes, I know that it doesn’t apply in all cases, but what are your thoughts?
Technorati Tags: recession, money crunch, debt, shopping
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I was having the same thoughts too. Yesterday, I was in a mall and it was really crowded. People were toting shopping bags and the changing rooms had long queues. They sure didn’t look like they were going frugal
Veronica Lees last blog post..Balance sheet Of Life