America is Fucked
America is Fucked
Out of context: Reply #1226
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- utopian0
Losing the extra $600 unemployment benefit may not have stopped Americans from spending money, J.P. Morgan credit card data shows.
In July, personal spending rose by 1.9%, the government said Friday. That spending happened while more than 30 million jobless Americans were receiving an additional $600 in weekly federal unemployment benefits on top of what they were receiving from their state.
- Since March our business has been 32% above revenue from the time last year. But personally I'm spending much less than I did in February.utopian
- WTF is wrong with American's spending more money when receiving unemployment and or when they just lost their unemployment benefits?utopian
- It's called capitalism utopian, look it up********
- Probably trying to distract themselves from the world falling down around themscarabin
- Or getting to projects they didn’t have time for before (i did a lot of stuff to my house during quarantine)scarabin
- ^ people are spending on home improvement. I doubt everyone is clamoring for a new Apple Watch.formed
- A large part of it is home improvement/repairs. Pressure-treated wood is hard-to-find and other things are heavily backordered.evilpeacock
- Also, it is kind of a benefit that the extra $600 fed back into the economy. Money moving around is usually a good thing. We'll see what happens next...evilpeacock
- https://www.npr.org/…evilpeacock