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submitted 2 months ago by yogthos@lemmy.ml to c/news@hexbear.net

The US economy is experiencing a "selective recession" where lower-income Americans are struggling due to rising costs and dwindling savings, while upper-income consumers remain unaffected. Inflation, although cooling down, has significantly impacted the purchasing power of lower and middle-income individuals. With the pandemic savings having been depleted for most Americans, recession fears are now growing as the job market weakens and interest rates remain high.

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[-] ClimateChangeAnxiety@hexbear.net 10 points 2 months ago

Rich people were able to take out bullshit fake loans for fake businesses that immediately got forgiven. Everyone else got enough money for rent once.

this post was submitted on 23 May 2024
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