Part 2/10:
Recent data indicates that approximately one in five Americans—19% of adults—are engaging in what is termed "doom spending." This spending trend is driven by anxiety about the economy's prospects and often involves using credit rather than disposable income. A report from creditcards.com reveals that consumers are resorting to debt to make purchases, exacerbating their financial situations amidst rising costs due to tariffs. The fear of impending price hikes is prompting many to buy large items or stockpile essentials like food and over-the-counter medications in anticipation of more significant economic hardships.