Americans prepare to spend the US$1.7 trillion they ve saved up
Kim Bhasin, Reade Pickert and Gerald Porter Jr., Bloomberg News Shoppers inside the Westfield San Francisco Centre shopping mall in San Francisco, on March 9. Photographer: David Paul Morris/Bloomberg , Bloomberg
Shoppers are out for vengeance.
A year into a pandemic thatâs devastated lives, jobs and the economy, those who are lucky enough to have disposable income are ready to go out and splurge â even if they still have nowhere to go in that stunning dress or those brand new sneakers. Some are calling this ârevenge spending.â
U.S. retail sales are near record highs and employment and vaccinations are on the rise. Americans have amassed a massive stockpile of excess savings â Bloomberg Economics estimates it to be about US$1.7 trillion since the beginning of the pandemic through January. And thatâs about to be bolstered by a new roun
Lacklustre day on the cards - The Hindu BusinessLine
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Americans prepare to spend the US$1 7 trillion they ve saved up
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Investing in the K-Shaped Recovery (CPRI, SKDI, SIG)
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Copper is nearing an all-time high. The copper market has a nickname: “Dr. Copper”. That name comes from the old adage that copper has PhD in economics – when it’s hot, you can expect a strong economy on the way.
As we near the unleashing of another multi-trillion-dollar round of stimulus, it makes sense that copper has run so far. The vaccines appear to be working. The pandemic is almost behind us. Economic confidence is bubbling over.
The upshot is the potential for inflation on the horizon. But that also means a likely uptick in feelings of wealth among developed world populations. When we have seen such high economic confidence in the past, we have seen asset bubbles and surging demand for luxury products.