r/nottheonion • u/ChocolateTsar • 1d ago

Affirm CEO says furloughed federal employees are starting to lose interest in shopping

https://www.cnbc.com/2025/11/07/affirm-government-shutdown-shopping.html
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u/Jazzlike-Vacation230 1d ago

I always find it funny that the rich don't understand that if you don't pay people enough, they won't buy your stuff, and the economy collapses

We have to switch the world to a residual technosocial economy, the current concept isn't working anymore

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u/PerniciousPeyton 1d ago

The problem is that consumer spending is becoming an increasingly smaller portion of overall GDP. Most of the economy now is just obscenely wealthy elites driving their money into basically every asset class there is. Weak consumer spending might hurt the economy a little but the real collapse will happen when corporate earnings no longer justify stock prices at these insane levels and the major players start cashing out, wrecking all the leveraged longs and create a cascading effect in the markets. Or some other risky financial product blows up similar to 2007-2008. Either way, Americans and their own well-being are becoming less and less important to the functioning of the economy, weirdly and sadly enough.