Our special report offers practical ways to succeed in case of an economic downturn
Social media influencers flaunting wealth and status are no longer… slaying. NPR on July 16 writes:
Posts sharing luxury handbag collections or exotic vacations were once popular on TikTok and Instagram, but now influencers are facing backlash in their comment sections for what some followers see as excessive displays of wealth during an economic downturn.
Axios provided several examples of those critical comments, such as:
“Skip caviar next week and pay my rent.”
And “Thanks for teaching us peasants.”
The drop in advertisement to online creators and rise in hostility toward their lavish lifestyles may be what NPR calls “an unexpected… recession indicator.”
Bob Prechter’s seminal work, The Socionomic Theory of Finance explains the shift in anti-wealth sentiment:
Luxury goods tend to be popular at extremes in positive social mood, as the stock market and economic prosperity approach major peaks.
They tend to go out of favor when these trends reverse. If mood turns toward the negative, the reality for the luxury sector will likely fall short of the industry’s lofty projections.
Recession is part and parcel of such a shift in mood.
Caviar or rice cakes ahead — our special report “How to Find Opportunities in a Recession: Not Merely Surviving But Thriving in a Downturn” provides dozens of real-world strategies for preserving and expanding one’s personal wealth in case of a prolonged downturn.
This invaluable report is available right now for just $30. It’s a practical, recession-proofing guide for anyone (who doesn’t own a handbag that costs as much as a house!)