YOLO Spending, Inflation and the Wisdom/Madness of Crowds

The harder authorities and pundits push the "inflation is under control" narrative, the faster they erode public trust and confidence in the future value of labor and "money."

YOLO spending--grabbing what you can right now because You Only Live Once--is now embedded in the zeitgeist. The original narrative--that the pandemic shutdown awakened a broad cultural awareness of the fragility of life and security, and so it's wiser to buy experiences now rather than later--may be expanding into the complex realm of inflation and inf…