Economy

progree

(11,463 posts)

9. Yup. And so...

Wed Jul 6, 2022, 02:02 PM

Jul 2022

It includes me too, and my income and savings went up (not counting any capital gains). My spending went way down too (savings = income minus spending)

Maybe Saez and Zucman and Pikety will come along and do a breakdown by deciles or something. I certainly would be very interested in seeing it.

I'm not real eager to spend my "pile of savings" giving that its purchasing power has been eroded about 90% by inflation since January 2021 (when inflation started heating up), and my equities are down in both nominal and especially inflation-adjusted dollars.

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wsj.com: Americans Tap Pandemic Savings to Cope With Inflation [View all] mahatmakanejeeves Jul 2022 OP

We're cutting back on what we purchase. CrispyQ Jul 2022 #1

How convenient Magoo48 Jul 2022 #2

Why is this a story? snowybirdie Jul 2022 #3

Because Rupert Murdoch is paying me to post it. NT mahatmakanejeeves Jul 2022 #4

This message was self-deleted by its author mahatmakanejeeves Jul 2022 #5

Huge Pile of Savings????????? Farmer-Rick Jul 2022 #6

Here's the Personal Savings Rate according to BEA by way of FRED progree Jul 2022 #7

So, it includes people like Bill Gates, Zuckerberg, Walmart and the Koch Bros Farmer-Rick Jul 2022 #8

Yup. And so... progree Jul 2022 #9

But here's the thing Farmer-Rick Jul 2022 #10

Oh I know. I'm sure the top 10% got well over half of it /nt progree Jul 2022 #11