Why is an economic depression bad for consumers even though prices are cheaper?
In: 88
For individuals with iron ricebowl jobs immune from retrenchment (for my country: govt jobs, education, non-elective healthcare) it could be a good thing. For people with massive amounts of cash ready to sweep up businesses and property at extremely low prices it could be a good thing.
My parents work govt jobs and during the 08 crisis i admittedly didnt feel much of an impact if at all, admittedly i may also have been too young to notice.
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