eli5: How markets are still going up but luxury markets, (like travel) seem to be down in the US.
In: Economics
things are generally ok-ish; but not bad
people and businesses are still spending money mostly as normal; only the excess is being cut. Maybe we’ll take a closer vacation; maybe i wont upgrade my watch, lets shop hotels; no new handbags; maybe we’ll cook at home rather than dine out.
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