Wednesday, October 26, 2022

There Are PLENTY of Savings (!)

This morning one RadioMouth quoted some sumpin' to the effect that 'personal savings are going south,' and Doom!  Gloom!!  TEOTWAWKI!!!!

Well, yes--they are.

But they are going south from world-record levels, as Tonelson--no Lefty--shows with this chart.

 

He has another chart--this one of 'liquid cash' in checking and savings accounts (below.)  What Tonelson wants to tell you is that the American consumer is not--yet--drowning in inflationary prices.  That may happen in the next several months, but there's plenty of cash on the sidelines.

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