Powell Promises Pain, Markets Deliver – Ep 836
The Peter Schiff Show Podcast
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Why Are So Many Americans Taping Into Their Savings?
Spending actually came out weaker than expected. The savings rate went down to five %, the lowest since august of two thousand and nine. Americans are tapping into their savings because they can't get by on their incomes. That's why credit car debt is through the roof as the economy goes through the floor. And that still means that we're in a recession despite what many people want to deny it.
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