People are PLOWING thru their savings accounts

[HJCane]

Savings rate down to 4.4% generally runs around 7.2% as inflation eats away at disposable income.
This signals a SHARP decline in spending is coming.

U.S. savings rate hits lowest level since 2008 — here's why economists aren't concerned

The savings rate is under pressure, but consumer spending is expected to hold up even with inflation surging.

finance.yahoo.com

 

[mahb]

This was his election promise of Redistribution of wealth. All Citizen's poor, with only the ruling class rich is their income equality