Here’s Why It’s a Problem That Americans Are ‘Doom Spending'

Despite widespread economic concerns, consumer spending remains high, with record Black Friday participation and holiday spending predicted to reach $966.6 billion. However, this surge is fueled by “doom spending,” where over a quarter of Americans spend mindlessly due to economic anxieties. Particularly among younger generations, this trend leads to rising credit card debt, now exceeding $1 trillion. Experts warn of the long-term negative impact on financial stability, urging a shift towards more prudent financial management.