Buy now, worry later? How 'Doom Spending' is taking over the economy

Economic anxiety has reached a fever pitch.   Mortgage rates are creeping back up, there’s a war on, and companies seem more focused on investing in AI than hiring people.  Many Americans are worried about their finances, but still splurging more than they’re saving, especially the youngest generations. When they don't have savings, they're taking on debt.  There’s a name for this phenomenon – it's called "Doom Spending."  On today's episode, Gen Z is spending like never before ... and they’re not the only ones. So what happens to the economy over the long term when so many people are spending like there’s no tomorrow?  Do you have a story idea for us? Give us a call at (206) 221-7158 and leave a voicemail. You can also email us at booming@kuow.org. Thank you to the supporters of KUOW, you help make this show possible! If you want to help out, go to kuow.org/donate/boomingnotes.Booming is a production of KUOW in Seattle, a proud member of the NPR Network. Our editor is Carol Smith. Our producers are Lucy Soucek and Alec Cowan. Our hosts are Joshua McNichols and Monica Nickelsburg.Support the show: https://kuow.org/donateSee omnystudio.com/listener for privacy information.