People, without savings, are suffering great financial difficulties. They are forced to line up for handouts from charities. Their world views and their view of themselves are changing dramatically. Anyone want to bet these people are not going back to pursue "avant garde" lifestyles?
Spending habits are going to make some very big changes and savings is going to become king. In this new environment, businesses not ready to serve their new more frugal customers are going to be very surprised that social assumptions marketers make will no longer work. Just like after the great depression, people became very respectful of holding onto the dollars they earned and they kept it up for two generations. Things are not going back to the way they were. Many businesses that are closed, will open only to find they have no customers who are willing to pay the old prices. So they will close again forever.
A collection of articles defining our times. The pages contain clickable links, don't let the titles fool you, some of the best articles have very non-descript titles and there are usually more articles on the matters in the days and week pages the links land on so it's a sort of treasure hunt through history, Enjoy!
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