Important Takeaways:
- Pawn shops know something about the US economy that Biden doesn’t: Times are still tough
- Clay Baron has everything in his pawn shop from gold rings and pearl necklaces to vintage cowboy boots, silver belt buckles, stereos and ticking clocks.
- The only thing he’s short on is space. “Right now we have a glut of inventory,” Baron said, “which tells me that our clientele doesn’t necessarily have money.”
- Accumulating pawn shop inventory means fewer buyers than sellers – a sign that for the lowest-income Americans, times remain tough.
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