tony pretty small minded view imo using an extreme example like $400 haircut or $100 plumbers.
it's hard to know whats really going on out there from where i'm sitting but my bet is people have been living on the edge for a long time after all the cost of living increases. food, petrol, rent, services
i had a guy with 2 kids tell me recently "i cant believe i'm making 100k a year and struggling". everything in his life is budgeted down to the last dollar to get through the month.
if thats someone on 100k, what would it be like for the majority who get 60k or less?
imo the reccession is going to be very real, once people see the jobs going and hear of friends loosing jobs, spending will be further slashed and the cycle feeds on itself. all these businesses and retail shops that have popped up in recent years selling stuff no one needs are going to be hit hard.
i've noticed in my area shopping centre and stores with no customers whenever i walk past, restaurent strips that could seat 150 people only have 6 people having coffee or dinner and 3-4 staff in each place just standing around
