The crowdfunding site said in its annual report that people increasingly sought help with “essential expenses” like housing costs as inflation continues to bedevil the U.S.
  • ArbitraryValue@sh.itjust.worksEnglish
    11·
    1 year ago

    Why would this sort of fundraising quadruple from 2023 to 2024 when the big spike in prices due to inflation happened in 2001 and 2002? 2024 isn’t so dramatically worse than 2023 by any metric.

    The article does state that

    price growth actually spiked again in November, indicating that efforts to combat increasing day-to-day expenses for American households has stalled

    but this corresponds to things not getting better as opposed to things getting worse.

    I suspect that part of the explanation involves GoFundMe becoming more popular (maybe in general or maybe just with people fundraising for essentials) rather than any larger economic trend. The article doesn’t include enough information to know.