Comment on Americans have such a hatred of inflation they'd rather have a recessionComments−vasilipupkin2yIt’s not that surprising. Inflation destroys your savings−bwestergard2yOnly 21% of Americans have more than $5000 in savings. So their employment prospects should matter much more to them on any reasonable analysis.https://www.cnbc.com/2024/01/24/how-much-money-americans-hav...−vasilipupkin2yThe Americans that don’t have any savings don’t necessarily have wages that keep up with inflation either. But alsohttps://www.usatoday.com/story/money/2024/01/14/average-net-...−consumer4512yAlso, as we have recently seen, a larger than normal inflation rate apparently gives corporations PR cover for raising profit margins across the board.−tedunangst2yUnemployment can be rough on the savings too.
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It’s not that surprising. Inflation destroys your savings
Only 21% of Americans have more than $5000 in savings. So their employment prospects should matter much more to them on any reasonable analysis.
https://www.cnbc.com/2024/01/24/how-much-money-americans-hav...
The Americans that don’t have any savings don’t necessarily have wages that keep up with inflation either. But also
https://www.usatoday.com/story/money/2024/01/14/average-net-...
Also, as we have recently seen, a larger than normal inflation rate apparently gives corporations PR cover for raising profit margins across the board.
Unemployment can be rough on the savings too.