US Personal Savings Declines -64.8% Year Over Year In November As M2 Money Growth Falls To Lowest In History (0%)

[JGalt]

More bad news from the Biden economy. While inflation is abnormally-high, people are having to tap into their savings to make ends meet.

How much worse is this going to get before we hit the bottom?

"US headline inflation began to soar as soon as Joe Biden became President. A combination of massive stimulus spending related to the Covid economic shutdown and his war on fossil fuels, driving up gasoline and diesel fuel prices. In other words, headline inflation rose from 1.4% Year-over-year (YoY) at the end of December 2020 to 9.1% YoY in June 2021. It has now simmered down to 7.1% YoY as The Fed continues to remove monetary stimulus.

How have consumers coped with inflation caused by massive Federal spending and Biden’s anti-fossil fuel policies? In November, personal savings dropped -64.8% YoY. This marks 20 straight months of declining personal savings.

US M2 Money growth YoY is now … 0%. That is the lowest in US history.

Wow, when The Fed puts its foot on the brakes, …"

Coping With Inflation? US Personal Savings Declines -64.8% YoY In November As M2 Money Growth Falls To Lowest In History (0% YoY) – Investment Watch

 

[1srelluc]

Dems don't save any money so they don't think anyone else should and, by the looks of things, actually work toward that end.

 

[Woodznutz]

I save lots of money, just to be a smartass.

 

[Dekster]

I save lots of money, just to be a smartass.

You may need it. The recession might be a little more extra than normal this fall. Take it for whatever it is worth, but a guy from a company that specializes in doing foreclosures told me at a recent auction that they have been flooded with new orders the last several weeks. Getting them faster than they could process them. Said that most of the ones he has looked at should have been done a year ago but the banks have been sitting on them letting them pile up and are now preparing to flood them into the market.

 

[Woodznutz]

You may need it. The recession might be a little more extra than normal this fall. Take it for whatever it is worth, but a guy from a company that specializes in doing foreclosures told me at a recent auction that they have been flooded with new orders the last several weeks. Getting them faster than they could process them. Said that most of the ones he has looked at should have been done a year ago but the banks have been sitting on them letting them pile up and are now preparing to flood them into the market.

Where I live the real estate market is pretty stable, so there won't be many good buying opportunities.

 

[Dekster]

Where I live the real estate market is pretty stable, so there won't be many good buying opportunities.

It is in our area too for now other than interest rates are sucking the life out of volumes. I have noticed more out of state investors/flippers moving into the market as theirs are softening up though, particularly out of the Raleigh-Durham and Greensboro-High Point-Thomasville areas.

If banks flood the market with foreclosures, however, it could totally change that. I sold some rentals this past year while the market was still strong which should be enough to get #1 through college and #2 at least part of the way. Gonna sell some commercial property at the end of this year or early next year which should get #2 the rest of the way and in theory #3 as well, but #3 doesn't seem to currently have any aspirations other than play video games and text for the remainder of their existence.

 

[Woodznutz]

It is in our area too for now other than interest rates are sucking the life out of volumes. I have noticed more out of state investors/flippers moving into the market as theirs are softening up though, particularly out of the Raleigh-Durham and Greensboro-High Point-Thomasville areas.

If banks flood the market with foreclosures, however, it could totally change that. I sold some rentals this past year while the market was still strong which should be enough to get #1 through college and #2 at least part of the way. Gonna sell some commercial property at the end of this year or early next year which should get #2 the rest of the way and in theory #3 as well, but #3 doesn't seem to currently have any aspirations other than play video games and text for the remainder of their existence.

I sold my only rental property 10 years ago. The market was down but I wanted out. If I had waited 2 or 3 years the market would have rebounded. I should have hired a management firm to run it until the market came back, but I didn't think of that. Cost me a bundle. Oh well.

 

[Dekster]

I sold my only rental property 10 years ago. The market was down but I wanted out. If I had waited 2 or 3 years the market would have rebounded. I should have hired a management firm to run it until the market came back, but I didn't think of that. Cost me a bundle. Oh well.

I am working in that direction TBH. I am ready to be out more or less. I will readily admit that I have been very lucky with timing in and outs on investments. I went in bigly after the great recession when they were giving property away and am unwinding all those now that everything is paid for. I have no more space left in my soul for landlording these days. I have a nephew who is getting his feet into flipping. I have reluctantly been helping him get the properties and am just happy to get my money back when he sells them. I told him this is a limited time thing. He is going to have to start saving and using his own money or credit to buy the properties. He does good work but he is still a bit slower on the flips than he should be. He needs to learn "Good enough is good enough" and stop going for Better Homes & Gardens finishes.

 

[Ringo]

"US Treasury Secretary Janet Yellen is pleading with Congress to raise the debt ceiling as soon as possible, saying that the US will reach the limit on January 19.
Then “emergency measures” will be used to continue paying bills"

Living all the time on the verge of default...

 

[Moonglow]

Dems don't save any money so they don't think anyone else should and, by the looks of things, actually work toward that end.

Only suckers keep their money in banks they make little to no interest.

 

[Moonglow]

"US Treasury Secretary Janet Yellen is pleading with Congress to raise the debt ceiling as soon as possible, saying that the US will reach the limit on January 19.
Then “emergency measures” will be used to continue paying bills"

Living all the time on the verge of default...

Two hundred and fifty years worth.

 

[Moonglow]

Quantitative easing, ain't it great?

 

[Markle]

Where I live the real estate market is pretty stable, so there won't be many good buying opportunities.

In what real estate market do you live?

 

[Moonglow]

In what real estate market do you live?

NW Arkansas is a hot real estate market.

 

[Care4all]

Those stimulus checks will be greatly missed by my savings account!!!

 

[Markle]

Quantitative easing, ain't it great?

Speaking of our Monetary Base.

 

[iamwhatiseem]

And everyone's retirement investments fell between 12% - 30%.

But but but Biden says it's one of the best economies ever!!

 

[JGalt]

Speaking of our Monetary Base.

Me headed to the store to buy some eggs...

 

[Markle]

NW Arkansas is a hot real estate market.

I can see that. In the chicken capital of America, not many chickens buy their own coups!

 

[Moonglow]

And everyone's retirement investments fell between 12% - 30%.

But but but Biden says it's one of the best economies ever!!

mine increased and still is.