People who lost their jobs fear for their future. They continue to visit the mall but only buy what they really need.
People who still have jobs, life continue as usual. Be a little bit more cautious and pay more attention to the surrounding area. Yes, that’s it. As long as the layoff don’t hit them, they usually are quite indifferent about the “big picture” economy.
Those living on the edge of “running out of cash”, they live off credit cards and HELOC. Yes, baby boomers still got HELOCs. As long as the government easy credit continues, things appear to be okay.
