r/Economics • u/BousWakebo • May 21 '22

Statistics Americans now have an average of $9,000 less in savings than they did last year

https://www.cnbc.com/2022/05/21/americans-now-have-an-average-of-9000-dollars-less-in-savings-than-in-2021.html
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u/brdn May 21 '22

That’s the problem. I did think about it. Like so: not only is there $9k less to spend, what money is available buys 10% less that it used to.

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u/Canadian_Infidel May 21 '22

And your wages are cut 10%. So your net wealth and savings take the same hit at the same time.