Your in Debt, but Your Employer is Making Record Profits
Mar 8, 2023 12:29:58 GMT -5
bobtheinquisitor likes this
Post by easye on Mar 8, 2023 12:29:58 GMT -5
Credit Card Nation: How we went from record savings to record debt in just two years
www.npr.org/2023/03/08/1161407261/how-we-went-from-near-record-savings-to-record-debt-in-just-two-years
Millennials like Roth have seen their debt rise by nearly 30% since before the pandemic, to about $3.8 trillion. What's so strange about this is that back in 2021, that debt had fallen to near-record lows.
"We saw Americans across the income stream save a lot of money. I mean a lot of money," says Jill Schlesinger, CBS news business analyst and author of The Great Money Reset.
Schlesinger says stimulus checks, lockdown and pay raises had people in really strong financial shape, with the highest personal savings rate on record. "But then 2022 starts and inflation doesn't go down," says Schlesinger. "And then we saw many people plow through those pandemic era savings, left with nothing."
and yet at the same time.....
Corporate profits hit record high in third quarter amid 40-year-high inflation
thehill.com/business/3756457-corporate-profits-hit-record-high-in-third-quarter-amid-40-year-high-inflation/
Corporate profits in the nonfinancial sector hit a record high of $2.08 trillion in the third quarter even as 40-year-high inflation continues to squeeze American consumers.
Profits adjusted for inventories and capital consumption rose $6.1 billion from the second to third fiscal quarters, the Commerce Department reported Wednesday, continuing a red-hot recovery from the flash recession caused by pandemic shutdowns.
It is almost enough for folks to start believing in conspiracy theories online.....
www.npr.org/2023/03/08/1161407261/how-we-went-from-near-record-savings-to-record-debt-in-just-two-years
Millennials like Roth have seen their debt rise by nearly 30% since before the pandemic, to about $3.8 trillion. What's so strange about this is that back in 2021, that debt had fallen to near-record lows.
"We saw Americans across the income stream save a lot of money. I mean a lot of money," says Jill Schlesinger, CBS news business analyst and author of The Great Money Reset.
Schlesinger says stimulus checks, lockdown and pay raises had people in really strong financial shape, with the highest personal savings rate on record. "But then 2022 starts and inflation doesn't go down," says Schlesinger. "And then we saw many people plow through those pandemic era savings, left with nothing."
and yet at the same time.....
Corporate profits hit record high in third quarter amid 40-year-high inflation
thehill.com/business/3756457-corporate-profits-hit-record-high-in-third-quarter-amid-40-year-high-inflation/
Corporate profits in the nonfinancial sector hit a record high of $2.08 trillion in the third quarter even as 40-year-high inflation continues to squeeze American consumers.
Profits adjusted for inventories and capital consumption rose $6.1 billion from the second to third fiscal quarters, the Commerce Department reported Wednesday, continuing a red-hot recovery from the flash recession caused by pandemic shutdowns.
It is almost enough for folks to start believing in conspiracy theories online.....
