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Under Scranton Joe’s leadership, more and more Americans are dependent on government cheese. Personal income transfer payments to person hit an all-time high as The Federal Reserve keeps pumping money into the system. Government transfeer payments as a percentge of total income is now a whopping 34%. US Personal Savings Rate is now 27.6%. Which means that the Biden Bonanza of transfer payments are ending up in savings, not being spent. Biden’s government cheese helped increase personal income by 21.1% MoM, although personal spending increased by only 4.2%. ....
by Tyler Durden Monday, Mar 15, 2021 - 05:12 AM Now that the $1.85 trillion Biden stimulus is officially being deployed with tens of millions of stimmy checks being sent out this weekend to household across the nation, BofA s Jared Woodard writes that the most important question in for investors in 2021 is what will US households do with their extra money as the economy fully reopens? or in other words, where will all those stimmy checks go. And while the consensus is that the record “savings glut” will be spent, will the consensus be wrong again? Here, BofA sees two possible outcomes: Big Spending: a sustained real-economy consumption boom, higher wages & services inflation; bullish for GDP, but bearish for stocks because of ....
Stimmies Send Stocks Soaring, Crypto Pumped'n'Dumped zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.