Why is an economic depression bad for consumers even though prices are cheaper?

Question

Why is an economic depression bad for consumers even though prices are cheaper?

In: 88

Answer 1

Lower prices = less profit for company.

Less profit for company = layoffs/firings/company closures.

Layoffs/firing/closure = I don’t care how cheap it is, I can’t afford it with my $0.

The lower prices are happening as an attempt to draw consumers back to the business because it is operating at a loss. A business operating at a loss soon doesn’t operate at all. Then there are less goods and services to purchase since nobody is purchasing anything due to not having a job, and nobody is hiring because nobody is buying anything which means more closures and layoffs and suddenly everyone has no idea how they’re gonna afford that pressing need to eat sometime this month.