The only question I have is, Did the people pay for their stuff with cash reserves? Or did they use the credit card, and go further into debt?
That's easy to answer. With credit card interest anywhere from 18 percent to 28 percent (as bad with banks as with loan sharks), you can bet that people are going further into debt. They have no cash reserves. I saw worried looks on the faces of some young people at the grocery store today as they were buying a few meager items.