Americans are tapped out. Their savings are running low. This isn’t me saying it, this is the San Francisco Federal Reserve admitting the harsh reality.
The excess savings Americans built up during the pandemic may finally be almost gone, according to updated San Francisco Fed research https://t.co/kM4GnoXHiD
— Bloomberg (@business) August 17, 2023
I keep hearing from Jewish media people that the economy is good but it is objectively not good by any metric. There’s been enormous amounts of layoffs and many people are using credit cards just to sustain themselves.
This economic situation is going to lead to an even greater social collapse in many parts of the country. We already see a prelude of this in places like Los Angeles, San Francisco, Chicago and other cities.
