Part 4/9:
In a desperate bid to revive economic momentum, authorities touted stimulus packages aimed at bolstering consumer spending. Initial government initiatives, such as providing financial incentives for home renovations and car purchases, yielded minimal long-term results. Spending did increase in these areas, but overall consumption remained stagnant; consumers shifted expenditures rather than increase them.
Market specialists argue that such interventions merely mask systemic failures rather than provide sustainable solutions. As consumers grapple with uncertainty rooted in the real estate wobble, many are unwilling to invest in discretionary spending, despite government attempts to nudge them toward increased consumption.