Show Me the Money 💰️

THE FULL STORY

How tf do we lose $2.1 Trillion?

With the current inflation rates, the US economy is on shaky grounds.

On top of that, people are dipping into their savings more and more, which continues the spending cycle for consumers.

In a recent post from The Kobeissi Letter-

Americans have used up a whopping $2.1 trillion of their extra savings since August 2021! 🤯 

Here’s some stats:

• The average American is $6500 in debt

• Median American families have less than $8000 in their savings

• National credit card debt is at a record $1.1 Trillion

How does this happen?

Since March 2020, the government injected close to $4 Trillion in stimulus.

Now, four years later households are depleting their savings and relying more on credit to sustain their financial well-being.

It seems like the landing won’t be as soft as we thought.

Let’s see what the CPI data says this week!

THE HALFSIES

From the pod

• Grandparents are single handedly saving the next generation?

• Anand’s got a bone to pick with All In’s newest pod with Sam Altman 😡 

• Are seltzers killing the wine industry? The sharp decline in sales could be proof!

THE LOL’S

Meme’s that made us laugh this week

VIRAL MOMENTS

Did you see this?

• Kim K is having a tough week, first the Brady roast, now this 😥 

• China just took AI to a different level 🤯 

• “Hey MTV, welcome to Vladimir Putin’s crib”

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