Americans have now spent all $2.1 trillion of their pandemic savings, San Francisco Fed says

fortune.com

cross-posted to:
news@lemmy.world

Americans have now spent all $2.1 trillion of their pandemic savings, San Francisco Fed says

fortune.com

return2ozma@lemmy.world to

Collapse@lemmy.mlEnglish · 6 months ago

cross-posted to:
news@lemmy.world

Consumer spending hit a peak of $85 billion per month last fall.

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Collapse, in this context, refers to the significant loss of an established level or complexity towards a much simpler state. It can occur differently within many areas, orderly or chaotically, and be willing or unwilling. It does not necessarily imply human extinction or a singular, global event. Although, the longer the duration, the more it resembles a ‘decline’ instead of collapse.

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