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The personal-savings rate, which surged more than 33% during the height of the pandemic, dropped in June to 5.1%, the lowest since the Great Recession in 2008.
I would argue that the savings rate touted in your link was from the handouts from the federal governments....note the plurality of government. So you supported all those handouts.
I may be wrong but I'm not sure that is something you thought was a good thing.
That was my first thought. Of course they could save a little bit when you give them over $36,000 a year for doing nothing.
That was my first thought. Of course they could save a little bit when you give them over $36,000 a year for doing nothing.
I know every penny of those payments for us went into savings. The fact that there was no means testing for any of them was stupid. My pension and Social Security got deposited every month and Mrs. NBP switched to teaching on-line so we suffered no income loss. The money did later go into a down payment for a new vehicle.
The only one of our four kids who lost income, and he really didn't, was our youngest son, who was a 1099 employee. He was out of work maybe a month or six weeks but got the enhanced Unemployment which had everyone qualified to receive it whether a W-2 or 1099 worker. He ended up getting more from that than if he'd worked.
Yes im sure all of you are economic experts that understands this topic enough to say how it will affect inflation.
And im SURE the record profits on corporations have nothing to do with it at all....
All else being equal inflation should create "record profits" in terms of dollars of profit year after year as the profit margin remains steady.
However, using total dollars of profit is gross anti-science as a measure of profitabilty in that the worlds largest company making 1 billion is terrible returns for shareholders while for a small company it could be hugely profitable.
We've explained this repeatedly over the years yet anti-science has its claws in deep.
point is that this bill TITLED "inflation reduction act" will not reduce inflation, it will actually increase it,,,
even left leaning Wharton College says it will NOT reduce inflation...
so the point is why do the dumbocrats continue to name/title bills that are polar opposites of what the bill does
It's a fancy manipulative bill title and the lemmings will believe it. Remember we are now in bizarro world where black is white and right is wrong and spending will reduce inflation
It's a fancy manipulative bill title and the lemmings will believe it. Remember we are now in bizarro world where black is white and right is wrong and spending will reduce inflation
i think they're taking a cue from antiFA when it came to naming their gaslighting bill:
'of course we're anti-fascist, it's right there in our name! just ignore the fact that we act like fascists 95% of the time!'
I saw an analysis on cable of the two bills by Steven Rattner and it will reduce the deficit 3-4 years out. I don't see a link to the statement yet but will post it when available.
Reducing the deficit has nothing to do with inflation. The monetary policy is completely owned by The Federal Reserve not the White House and not Congress
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