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America's Wealthy Get Richer

sensible don

Governor
Supporting Member
And I ask, who will protect these Elite's, will they all head to sea to get away like they did with the Pandemic ? But see the pirates are waiting.........oh where will they run to ?
 
A week before midterms and Jerome Powell has claimed the US economy is "robust." Powell has also talked lately about "pain" in America's economic future; he doesn't specify who will experience a "robust" future and who will inherit the "pain."

https://wallstreetonparade.com/2022/10/feds-powell-calls-u-s-economy-robust-as-personal-savings-rate-collapses-to-same-level-as-in-financial-crisis-of-2008/

"At Fed Chair Jerome Powell’s press conference on September 21, he made a remark that went unchallenged by the bevy of reporters in attendance. Powell said this:

"'This is a strong, robust economy. People have savings on their balance sheet from the period when they couldn’t spend and where they were getting government transfers. There’s still very significant savings out there, although not as much at the lower end of the income spectrum — but still, some savings out there to support growth...'"

"Powell’s statement stands in stark contrast to the numbers coming out of the U.S. Department of Commerce’s Bureau of Economic Analysis (BEA).

"According to BEA data, the Personal Savings Rate in the U.S. now stands at 3.5 percent, exactly where it stood in August of 2008 – in the midst of the worst financial crisis since the Great Depression."
 
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