Discount retailer says low-income households feel more ‘financially constrained’ than six months ago

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  • rothaine@lemm.ee
    53·
    2 months ago

    the depletion of savings built up during the pandemic

    Built up savings? Is this a thing?

    • Fuckfuckmyfuckingass@lemmy.world
      321·
      2 months ago

      Don’t you remember? They gave us all like $2500 or something one time. That’s enough to live on for at least a decade for the poors.

      • Krauerking@lemy.lol
        16·
        2 months ago

        I got “unemployed” during Covid and saw everyone bragging about how awesome it was that the federal government was providing extra money and it was like working a good job…

        My state let me know they had run out of unemployment insurance several decades ago and I would get just the federal money, reduced down to the state amount, minus the state and federal tax from each check.

        Yeah I got so fucked over it’s still a shock that people say they legitimately came out better with more money.

        • LunchMoneyThief@links.hackliberty.orgEnglish
          31·
          2 months ago

          bragging about how awesome it was that the federal government was providing extra money and it was like working a good job…

          Revolt hush money. I’m sure this was ran through a simulation at some prior time, “how can we pacify a domestic population that might reject what we’re about to do to them?” Money, of course.

        • GraniteM@lemmy.world
          1·
          2 months ago

          You should have seen my fucking face when I was on unemployment and I found out that I had to pay income tax on my unemployment checks. Like… what the fuck? Why didn’t you just give me less money to begin with?!

          • Krauerking@lemy.lol
            3·
            2 months ago

            Yup

            Edit: well with big blue cities that pride themselves on how helpful they are despite being also bullshit panderong that don’t even show up to vote in local elections.

    • AlecSadler@sh.itjust.works
      14·
      2 months ago

      No and most didn’t build up savings during the pandemic…we all went into debt or spent savings just to scrape by.

      • SoJB@lemmy.mlEnglish
        94·
        2 months ago

        Much like 2008, the pandemic never actually ended. When schools reopened, every classroom in the nation was full of children on their 4th, 5th, 6th infection in a month. Thousands of people still drop dead from it every month and the US is, to this day, still experiencing 30% more per capita deaths than pre-pandemic.

        Long COVID is proven to cause permanent organ damage, including brain function. We won’t know what it does to child development until decades from now but it’s already proven to increase risk-taking and reduce higher level function in adults.

        The accumulation of capital continues.

    • captainlezbian@lemmy.world
      3·
      2 months ago

      I did but that’s because I’d already been saving aggressively, had just lost my job, and the little entertainment budget I had left was no longer able to be used, then suddenly my unemployment benefits went up and I got stimulus money. It turned a guaranteed financial disaster into a little extra time.

    • psvrh@lemmy.ca
      23·
      2 months ago

      A lot of people used pandemic relief funds to invest, notably in real estate. As the market returns to reality, those people are finding they’re massively overextended.

        • psvrh@lemmy.ca
          2·
          2 months ago

          Disclosure: I’m Canadian, I didn’t catch that this was a US story. In Canada a lot of people who received our equivalent of COVID relief used that money to invest, which made our housing crisis that much worse.