Reply to Nearly half of Americans have $500 or less in their savings accounts

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[quote=Anonymous]One thing that’s weird is that consumer spending hasn’t really slowed.  So with rising prices people are still spending more and more so I guess it’s not surprising savings are down.  I get these quarterly economic updates in my job and I keep expecting things like travel spending to crash, but it hasn’t.

The four year presidential cycle is a real conundrum because by the time one president’s economic policies take effect for real, it’s often the next administration. Part of the problem we are seeing now was created by past administrations that built dependence on Chinese manufacturing, which has now led yo shortages and inflation.  And the real estate prices are insane because interest rates were insanely low for so long so people kept bidding higher and higher because with 3% mortgages, you can afford to.

I don’t even know what Trump’s economic plan is now….he has never articulated anything.  Is he going to cut taxes for the rich even more?  Deregulate?  Who really knows.  I’m not at all confident he will het anyone competent to work for him given what happened to people in his last administration.  Biden may be slipping but he’ll let competent people do their jobs.  Trump is all about Trump so God only knows what he’ll do.[/quote]

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