JUST IN: 🇺🇸 United States lost $5.9 trillion in wealth last year, more than any other country in the world.
— Win Smart, CFA (@WinfieldSmart) August 16, 2023
NEW – Russia got richer last year, while the West shed trillions of dollars of wealth, according to UBS. pic.twitter.com/3E790JmosT
— Disclose.tv (@disclosetv) August 16, 2023
https://twitter.com/jacksonhinklle/status/1691853636043768185
CHUCK SCHUMER: "Our economy is doing so well!"
Since Biden took office, prices are up 16.9%, real wages are down 3%, and gas is up $1.48/gallon. Credit card debt is at a record high. 20 million households are behind on their utility bills. The list goes on. pic.twitter.com/sIfcdtmDQn
— RNC Research (@RNCResearch) August 16, 2023
A San Francisco Fed study estimates that US consumers have about $190 billion of excess savings left and that it'll likely be depleted during the current quarter. (h/t Apollo's Torsten Slok) https://t.co/6PtvdOSuXu pic.twitter.com/yk4UqzpOfr
— Lisa Abramowicz (@lisaabramowicz1) August 17, 2023
NOW FOR A REALITY CHECK
🚨 54% of Americans are using savings to pay for everyday expenses like groceries and rent
🚨 Consumer credit card debt just surpassed $1 trillion for the first time
🚨 More Americans are tapping their 401(k) accounts because of financial distress;… https://t.co/nvT2LUnyEM
— Hedgeye (@Hedgeye) August 16, 2023