I noticed this past weekend a lot of people were not using their credit cards and paying with cash. Is this the sign that people are worried about not having a job tomorrow and have decided to not put anything else on their credit card?
We might be heading back to the day when cash was king. With people spending less it might be good for one’s savings but terrible for today’s economy.
Remembering the 1982 and 1991 recession they were pretty bad but nothing compares to this one except I guess what the Great Depression was which I wasn’t around for.
Let’s hope the money being thrown about to save people’s homes , jobs , and business gets credit when they need it works cause if it does not this could be a major meltdown. Deflation will be rampant.
I am happy to be working in a corporate restaurant right now as the smaller restaurants are really taking a hit. When we rely on tips it doesn’t take long to be broke.
Any waiters or people of other service occupations notice a difference in the way that people pay right now compared to a few month’s ago? I am seeing more cash as mentioned above.