Analysis: YOLO is dying. That could be bad news for the economy

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YOLO economy, meet the “yo, no” economy.

Not so long ago many of us were willing, if not eager, to shell out on fancy new TVs, upgraded bathrooms and kitchens, Peloton bikes and bottles of the good stuff. Things have changed. This summer, our bathrooms are outdated and our champagne bottles corked.

Americans emerged from pandemic lockdowns with better jobs, extra spending money and a burning desire to live life outside of the confines of their own abodes, regardless of the price. In what was dubbed the YOLO economy (short for “you only live once”), or revenge spending, consumers shelled out for the experiences and goods they had missed.

Now, five years after the onset of the pandemic, the free-spending party is coming to an end. And that may be bad news for the economy.

?? Read Nicole Goodkind 's full analysis here

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Today’s PM Plug-In was produced by CNN’s Kimberly Richardson and Penelope Patsuris.