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  • Lower-income Americans threw the economy a lifeline during the pandemic

    From marketwatch.com

    The coronavirus pandemic and ensuing lockdown steered the U.S. economy into a giant, figurative iceberg, threatening to take down everyone on board with it as it started to sink. An unlikely lifeline appeared for the economy during the early weeks of the pandemic: low-income Americans. Low-income Americans, who are regularly viewed in some quarters as a drain on the economy, might actually have been the ones keeping the economy alive and propping it up during that challenging early stretch. With data from millions of daily financial transactions, including debit and credit cards, as well as ACH payments and prepaid ... (full story)

Interesting Perspective..

Quote: As policymakers consider whether to implement a second round of stimulus checks, they’d do well to keep the trends and behavior patterns revealed by this financial data in mind. Because what the data show is that the stimulus is perhaps less the government throwing a lifeline to low-income Americans, than low-income Americans throwing a lifeline to an economy that would otherwise start sinking like a stone."
Quoting RossEdwards
Interesting Perspective.. Quote: As policymakers consider whether to implement a second round of stimulus checks, they’d do well to keep the trends and behavior patterns revealed by this financial data in mind. Because what the data show is that the stimulus is perhaps less the government throwing a lifeline to low-income Americans, than low-income Americans throwing a lifeline to an economy that would otherwise start sinking like a stone."
title says that
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  • Story Stats
  • Posted: Jun 3, 2020 6:42am
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 2  /  Views: 3,886