Anxious Americans are ‘doom spending’ to cope with the election, economy [Video]

“Doom spending” is the latest economic trend among young Americans, though it certainly isn’t a good one.

A CNN report found millennial and Gen Z shoppers across social media taking part in the act of “doom spending” or “the practice of spending money to soothe fears about broader issues like politics or the economy.”

CNN correspondent Vanessa Yurkevich reported Monday, “What we‘re seeing is that showing up in doom spending. Essentially, if you‘re not feeling good about the economy, you feel like maybe that home purchase that I was trying to make is so far out of reach that I‘m going to spend in other ways to try to make me feel better.” 

She continued, “Or if you‘re not feeling the results of the presidential election, you may spend a little bit to try to take your mind off things. It‘s that dopamine hit that you‘re looking for to start to feel good again.”

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