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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (461582)	12/19/2020 12:31:14 PM
From: epicure	1 Recommendation Recommended By koan Read Replies (1) \| Respond to of 541632

"People are flush with cash as savings accounts expand. People are awash with savings." ? You mean the people who've lost their homes and apartments because they're ill or they can't work? Yeah, I'm sure they're "flush". cnbc.com But sure- it could be a new gilded age for the rich built on the backs of starving Americans. Woohoo- 'Murrica

To: Steve Lokness who wrote (461582)	12/19/2020 12:39:10 PM
From: JohnM	Read Replies (1) \| Respond to of 541632

People are flush with cash as savings accounts expand. People are awash with savings. Okay, maybe not a return of Jazz but a general feeling of euphoria? The opposite. If we take as a basic starting point a k type recovery, those at the bottom are not only in terrible shape and will be for some time to come, they are an enormously large part of the population, and the part who spends what they receive. Thus little economic stimulus.

To: Steve Lokness who wrote (461582)	12/20/2020 10:27:24 AM
From: Tom Daly	2 Recommendations Recommended By cosmicforce Triffin Respond to of 541632

"People are awash with savings." You might want to rethink that statement. Before the pandemic, there was an unbelievable number of people who didn't have enough cash in the bank to pay an unexpected $1,000 bill. There was also an extremely large number of people who had no or little retirement savings. Since the pandemic an additional close to 10 million people have been pushed into poverty, thousands of businesses are closed or bankrupt and people are pulling much more money out of their retirement savings. Food banks can't keep up with the demand.