Quote:
Originally Posted by AngryScientist
I am [very] obviously not an economist, but i just dont get it.
i have SO many friends and acquaintances out of work. pals who worked the lights on broadway, the restaurants and bars in downtown NYC that is dead as a doornail now, management at Marriott, etc.
all of these were good paying jobs that have evaporated at the moment.
where the hell is all this money coming from to buy 911s, boats, campers and halo bikes?
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Were those people in the market for 911's, boats, and halo bikes before the pandemic? The person with 100k to blow on a porsche still has that now. Probably more given the stock market trajectory over the last year and their lack of access to the usual mechanisms they would have been spending on - events, travel, etc. Rich people are still rich. Everybody else took a step back.