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Americans are 'doom spending' as a result of Trump's trade policy, new report reveals

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
Some 27% of Americans say they've stockpiled goods, and 14% say they plan to hoard goods soon.
The article from Fortune discusses the phenomenon of "doom spending," where consumers, driven by fears of an economic downturn, are increasingly using credit to purchase non-essential items as a way to cope with anxiety and uncertainty. This trend is evidenced by rising credit card debt and delinquency rates, as people are not only buying goods to stockpile but also indulging in luxury purchases. The article highlights that this behavior is partly fueled by a sense of fatalism about the future, leading individuals to prioritize immediate gratification over long-term financial stability. Experts warn that such spending habits could exacerbate financial strain if an economic downturn does occur, urging consumers to be mindful of their spending and to focus on building financial resilience.

Read the Full Fortune Article at:
[ https://fortune.com/article/doom-spending-shopping-fears-economic-downturn-credit-card-debt-delinquency-stockpile-purshase-consumer/ ]