Is there supposed to be a recession and people supposed to be tightening their belts? Certainly it didn’t look like it judging from the people who were at the various travel agencies at People’s Park!
But then again, it is good that people are not cutting their expenses too much. Imagine if everyone stop spending, the shops will not be able to pay their vendors, landlord, staff; the vendors will have to cut productions, imports, staff and stretch on their loans; the banks will panic and start more drastic actions to get back their money, credit will be tightened; and it will go on and on and in the end, the employee which means the consumer will see increasing unemployment……..
So people continue to spend but spend wisely.