With rising interest rates, high inflation, outrageous house prices, and expensive traveling costs, it feels like people should be spending less money. However, that hasn’t been the case. According to the Wall Street Journal, Americans spent 5.8% more in August than they did a year earlier. Delta Airlines also reported record revenue in the second quarter and Ticketmaster sales are up nearly 18% year-over-year.
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The Diderot Effect
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With rising interest rates, high inflation, outrageous house prices, and expensive traveling costs, it feels like people should be spending less money. However, that hasn’t been the case. According to the Wall Street Journal, Americans spent 5.8% more in August than they did a year earlier. Delta Airlines also reported record revenue in the second quarter and Ticketmaster sales are up nearly 18% year-over-year.