United States | News & Politics

My situation is better than most. I'm single so no spouse and have no children, and I grew up poor, so I already possess a lot of experience and knowledge one would need to navigate the current economic situation well.

And I'm not spending. The vast majority of the money I make goes into my investments, savings, and my mortgage. I cook 95% of what I eat. When I go into the office physically, I have my self-prepped meals and snacks I bought myself, because if you buy them at the office there's a 200-300% upcharge. If I order a $15 shirt online and don't like the fit, I package it up, walk it to the UPS store, and return it. If I bust a seam or tear something, I mend it myself by hand. When I had a car I did the minor repairs myself. I DO perform minor home repairs myself.

I can only imagine how difficult it is now for every working adult with kids, especially with child care costing the same as another annual income.

The people who do spend, however, can't anymore, and the scary thing is, that doesn't impact the wealth of truly wealthy in a meaningful way. Those people are planning for the crash, because for them, it's just another buying opportunity.