Target profit plunges 90% as inflation-weary shoppers pull back
www.cnn.com
Target reported profit plunged 90% in the second quarter, falling far short of expectations, as inflation-weary customers pulled back on spending on nonessential items.

Like this is a genuine question for me. There seems to be some lack of awareness on the part of the people who make decisions that a consumers need to have money to consume with or the whole system siezes like an engine with no grease. The plebes need to be given back some share of profits so they can continue to purchase stuff and keep the whole system from breaking down.

    • PSAnnouncement [none/use name]
      ·
      2 years ago
      1. Always ask for fee refunds
      2. Always demand regular audits to make sure you aren’t getting hit by forgotten finance charges
      3. Sometimes cash limits are stupidly high but if they are the same as your credit line, accuse the bank of unethically raising it without your knowledge
    • RamrodBaguette [comrade/them, he/him]
      ·
      2 years ago

      Credit can only do so much when interest is strangling an increasingly large amount of the population, which either through disincentivization (gotta stick to buying the barest of essentials) or outright defaulting/seizing has the same effect regardless when it comes to stifling consumption. The credit economy doesn’t completely upend the “underconsumption” theory, it simply pads it out. The past 15 years has more-or-less been the padding wearing out and reality catching up.