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You're conflating the pandemic with the pandemic stimulus. The savings rate shot up among the classes that remained employed but whose expenses fell through the
by banannaise 5y ago
You're conflating the pandemic with the pandemic stimulus. The savings rate shot up among the classes that remained employed but whose expenses fell through the floor. These people got little of the unemployment benefits, and many were also above the threshold for the stimulus checks.
- bko 5y agoI'm not making a moral judgement. When you look at broad economic trends you need to consider the aggregate. Some people are worse off, but on the aggregate people had more disposable income which I believe is driving up asset prices and now consumer prices
- s1artibartfast 5y agoI think you are conflating pandemic stimulus with unemployment relief. I largely agree that saving for the poorest hasn't gone up. Anyone with investments came out of pandemic great from all of the market stimulus. It would be interesting to see how much of the increased spending and saving is coming from different demographics. Is it people so saved a few thousand from skipping a vacation, or people who saw a hundred thousand dollars added to their retirement account?