What I Learned From Trying to Cut My Own Hair (economic, money)

[Suburban_Guy]

There's this thought that consumer behavior will change and never be the same after this pandemic settles down, like getting your own haircuts or altering your spending habits.

I totally disagree.

Once the pandemic settles down, people in our society will go right back to their usual routines and spending habits just like before. Sure it's cool you learned how to cut your own hair, but there's a reason why we are a society that loves to spend money, and that's because of convenience and habit. Why deal with the mess and inconvenience of cutting your own hair, when you can sit and relax in a beauty/barber shop and get it done professionally. And so on.

This is why we continue to have issues with student and housing loans and personal debt/savings. Despite what happened in the past people never learn or care to learn from past mistakes. They go right back to their previous habits and behavior.

https://www.bloomberg.com/opinion/ar...-your-own-hair

Writing to shareholders this week, BlackRock Inc.’s chief executive officer Larry Fink ruminated on how business and society will be reshaped by the searing experience of the new coronavirus:

“People worldwide are fundamentally rethinking the way we work, shop, travel and gather. When we exit this crisis, the world will be different. Investors’ psychology will change. Business will change. Consumption will change. And we will be more deeply reliant on our families and each other to stay safe"