Article
New threat to the economy: Americans are saving like it's the 1980sCNN BUSINESS
by Matt Egan
“The shifts in consumer behavior are another reminder of the pain on Main Street that often gets lost given the near-euphoria on Wall Street.”
“Although investors are optimistic about the future of the large companies that make up the S&P 500, it’s clear that small and medium-sized businesses are hurting badly.”
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“‘The consumer that constitutes the beating heart of the real economy is preparing for a much longer slowdown than what policymakers are telling them,’ said Joe Brusuelas, chief economist at RSM, a consultancy.”
“Economists warn that even after stay-at-home orders are lifted, many Americans won’t spend as aggressively as before until there is a vaccine. It’s not as simple as reopening the economy. “
“RSM said the survey strongly implies the federal government’s stimulus efforts ‘will not be sufficient to revive the beating heart and soul of the real economy in the near term.’”
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JOIN THE CAUSE
Be part of the solution by taking action and changing your own behaviours.
SHARE
Easily share with your community and the media to ignite exponential growth!
Pressure
Apply pressure on politicians and influencers with petitions, emails and phone calls to ensure concrete action.
SUPPORT
Sending messages of support and donations will keep your small businesses going.
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