4 ms·

Almost 20% of U.S. Households Lost Entire Savings During Covid Restrictions

21 points by AndrewBissell 5y ago

troydavis 5y ago
Underlying poll: https://media.npr.org/assets/img/2021/10/08/national-report-101221-final.pdf https://media.npr.org/assets/img/2021/10/08/national-report-... Unfortunately, they didn’t ask how much savings the responding households had prior to the pandemic, which makes the headline answer hard to evaluate. The closest it gets is “Is your financial situation now better, worse, or about the same as it was before the Covid-19 outbreak?” (Page 18). 23% said “A little worse” and 9% said “A lot worse.” 49% about the same, 15% a little better, 4% a lot better.
greenail 5y ago
Unfortunately the poor in the US have almost no savings. The bottom 25% median savings was 12,430 in 2020 up from 10,935 in 2017.
GaryTang 5y ago
I imagine there are many more unreported statistics of the devastation caused by government lockdowns.
WalterGR 5y ago
AndrewBissell - nice subtle editorializing of the headline. I always look forward to flagging your flamebait submissions.
- AndrewBissell 5y ago
  Actually I was removing the editorializing in the original. It's plainly the restrictions and response which caused this financial hardship, not the virus itself. The whole "because of Covid" framing (which is extremely common in articles like this one) is used to push the narrative that there were no possible alternatives, or that the pandemic response was free of significant costs and downsides.
  - WalterGR 5y ago
    What effect would not having had the restrictions, and rather letting COVID run rampant, have on people’s savings? (This is, of course, ignoring lives lost and health consequences for the survivors.)
    - atatatat 5y ago
      Why is it ignoring that? Those are massive financial variables, minimum.
      - WalterGR 5y ago
        Oh no argument there. I was trying to go one step at a time.
    - AndrewBissell 5y ago
      Ignoring the false dichotomy you set up for a moment, Sweden provides a good example of just how disastrous it would have been. i.e. not very.
joelbondurant 5y ago
The Fauci-19 bioweapon scamdemic proves that everyone owes the Government tax cattle kid objects to gang rape.

21 points by AndrewBissell 5y ago

Underlying poll: https://media.npr.org/assets/img/2021/10/08/national-report-101221-final.pdf https://media.npr.org/assets/img/2021/10/08/national-report-... Unfortunately, they didn’t ask how much savings the responding households had prior to the pandemic, which makes the headline answer hard to evaluate. The closest it gets is “Is your financial situation now better, worse, or about the same as it was before the Covid-19 outbreak?” (Page 18). 23% said “A little worse” and 9% said “A lot worse.” 49% about the same, 15% a little better, 4% a lot better.

greenail 5y ago

Unfortunately the poor in the US have almost no savings. The bottom 25% median savings was 12,430 in 2020 up from 10,935 in 2017.

GaryTang 5y ago

I imagine there are many more unreported statistics of the devastation caused by government lockdowns.

WalterGR 5y ago

AndrewBissell - nice subtle editorializing of the headline. I always look forward to flagging your flamebait submissions.

AndrewBissell 5y ago
Actually I was removing the editorializing in the original. It's plainly the restrictions and response which caused this financial hardship, not the virus itself. The whole "because of Covid" framing (which is extremely common in articles like this one) is used to push the narrative that there were no possible alternatives, or that the pandemic response was free of significant costs and downsides.
- WalterGR 5y ago
  What effect would not having had the restrictions, and rather letting COVID run rampant, have on people’s savings? (This is, of course, ignoring lives lost and health consequences for the survivors.)
  - atatatat 5y ago
    Why is it ignoring that? Those are massive financial variables, minimum.
    - WalterGR 5y ago
      Oh no argument there. I was trying to go one step at a time.
  - AndrewBissell 5y ago
    Ignoring the false dichotomy you set up for a moment, Sweden provides a good example of just how disastrous it would have been. i.e. not very.

joelbondurant 5y ago

The Fauci-19 bioweapon scamdemic proves that everyone owes the Government tax cattle kid objects to gang rape.