America Faces Savings Disaster

[oflguy]

Story by Giulia Carbonaro

A drop in savings among Americans and a record amount of credit-card debt could spell disaster for the country's economy should a recession hit the U.S. in the coming months or next year, according to experts.

Recent data from the U.S. Bureau of Economic Analysis shows the country's personal savings rate has remained historically low in 2023 compared to the previous year. In July, the latest data available, the rate was 3.5 percent, down from 4.3 percent in June and 4.7 percent in May.

The amount of savings put away by Americans is generally higher than in summer of last year, when it reached a record low of 2.7 percent in June 2022. But it remains much lower than the average annual rate of 8 percent, based on the bureau's data going back to 1959.

https://www.msn.com/en-us/money/markets ... c8a8&ei=15

Americans are dipping into their savings more and more as decreased wages and high inflation are making it harder and harder to make ends meet.

BIDENOMICS!!!!!

[def_con5]

Just one of the many. many bad things inflation causes. And even if your average working class guy manages to put a few bucks away, inflation then destroys his savings.

Story by Giulia Carbonaro

A drop in savings among Americans and a record amount of credit-card debt could spell disaster for the country's economy should a recession hit the U.S. in the coming months or next year, according to experts.

Recent data from the U.S. Bureau of Economic Analysis shows the country's personal savings rate has remained historically low in 2023 compared to the previous year. In July, the latest data available, the rate was 3.5 percent, down from 4.3 percent in June and 4.7 percent in May.

The amount of savings put away by Americans is generally higher than in summer of last year, when it reached a record low of 2.7 percent in June 2022. But it remains much lower than the average annual rate of 8 percent, based on the bureau's data going back to 1959.

https://www.msn.com/en-us/money/markets ... c8a8&ei=15

Americans are dipping into their savings more and more as decreased wages and high inflation are making it harder and harder to make ends meet.

BIDENOMICS!!!!!

[GeorgeMcGowan]

I’m making more than ever. My regular cash accounts are flourishing. My retirement funds and other equity investments are treading right now, but I’m in it long. When I retire in 2-3 years I’ll be sitting pretty.

[HomeRanger]

They have no idea how much precious metal and bitcoin I have saved.

[FOIA]

I’m making more than ever. My regular cash accounts are flourishing. My retirement funds and other equity investments are treading right now, but I’m in it long. When I retire in 2-3 years I’ll be sitting pretty.

Under Bidanemics the capital markets have sucked donkey dick while inflation has alsi reduced wealth. You are whistling past the graveyard. .

[def_con5]

Yep, total return on S+P 500, 13% since 20 January 2021. Not even keeping up with inflation. Total return under Trump 56%. 11.8% per year.

Under Bidanemics the capital markets have sucked donkey dick while inflation has alsi reduced wealth. You are whistling past the graveyard. .

[oflguy]

I’m making more than ever. My regular cash accounts are flourishing. My retirement funds and other equity investments are treading right now, but I’m in it long. When I retire in 2-3 years I’ll be sitting pretty.

Good for you

[Docbroke]

I’m making more than ever. My regular cash accounts are flourishing. My retirement funds and other equity investments are treading right now, but I’m in it long. When I retire in 2-3 years I’ll be sitting pretty.

5% on cash is pretty good.

[Vercingetorix]

I’m making more than ever. My regular cash accounts are flourishing. My retirement funds and other equity investments are treading right now, but I’m in it long. When I retire in 2-3 years I’ll be sitting pretty.

You aren't making any more than you normally would. Lefties always say this kind of shit

[Vercingetorix]

5% on cash is pretty good.

5%