[gumballindie]

> consumer spending has shrunk

Part of the reason being that workers have been ordered back to offices, meaning a significant portion of their income is spent on commute and eating out. Crazy how damaging rto is to everything around us.

[umeshunni]

Most of the reason is that asset prices (and thus wealth has shrunk), inflation is higher, so people are buying less and there's no Fed dropping money from helicopters.

[gumballindie]

Indeed, but add travel expenses and the cost of living in crowded cities and eating expensive food and you’ve got a cashflow crisis. Remote work is the single biggest economic boost the economy can get without the government printing money. Not to mention higher productivity.