RE: Are We Being Misled About Demand?
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Government stats have value when one views them in totality of the trends they create as opposed to the tangible number being handed out. That is why just reading the headlines tells nothing. In isolation, they make it look at whatever they want.
As for the lockdown, non-spending, I would disagree and so did most of the earnings reports. We know people spent a great deal on durable goods during that time. However, the pulling of demand forward never creates more, just adjusts when the purchases take place. It is a net zero gain overall.
Post consumerism is not likely, only changing form. I believe we are seeing the switch from physical to digital. Many have music playlists that would have cost thousands of dollars for pieces of plastic to own. Now it is all digital.
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