The U.S. can’t stop printing. Every week there’s $100 billion for Ukraine, $200 billion for defense, $300 billion for chips.
They say they are fighting inflation, but all they’re doing is lining their wallets so they benefit from it.
— Financelot (@FinanceLancelot) July 26, 2022
JUST IN: The Senate has voted to advance a roughly $280 billion package to boost funding for domestic chip production.
— unusual_whales (@unusual_whales) July 26, 2022
Fed QE continues:
Around $80bn USTs and $10bn MBSs so far in July.
— The Sirius Report (@thesiriusreport) July 27, 2022
Most Americans have ‘little to no savings and nearly HALF are falling deeper into debt because of rising inflation’: Economists put chance of recession at 47 percent over the next 12 months
- A LendingTree survey of 1,008 Americans in July found that 43 percent of consumers will take on additional debt in the next six months
- Another poll from Bankrate found 51 percent of Americans had little to no savings or emergency funds lined up
- More than a third also reported having less savings than they did in 2021
- It comes as inflation, which hit a 41-year high last month at 9.1 percent, has eaten away at people’s savings with the soaring costs of goods and services
- The troubles are expected to be compounded as economists said there was nearly a 50 percent chance of a recession will hit in the next 12 months
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