A $5.5 trillion savings wipeout is raising risks for the US economy
www.businessinsider.com
A sharp slide in Americans' personal savings is threatening to hurt consumer spending, which has so far helped the US economy hold up in the face of recession warnings.
  • blake@kbin.social
    1·
    1 year ago

    Billionaire investor Bill Gross recently weighed in on falling consumer savings levels, warning that Americans could run out of their pandemic savings later this year, paving the way for a recession.

    This may be one of my favorite “out of touch billionaire” comments I’ve ever seen.