- With no break in sight for rising prices, nearly two-thirds of all Americans are living paycheck to paycheck, according to a recent report.
- Even top earners say they are stretched thin, the report found.
- Over one month, average savings dropped from $11,274 in May to $10,757 in June.
www.cnbc.com/2022/08/01/as-inflation-surges-more-americans-are-living-paycheck-to-paycheck.html
New York Times columnist and Nobel Prize winning economist Paul Krugman is mocked for insisting to CNN that America ISN’T in a recession and that the term ‘doesn’t matter’
- Krugman, 69, made the controversial comments on a CNN talk show this Sunday
- He dismissed talk of a recession and said ‘the state of the economy is what it is’
- The questionable commentary prompted a hail of criticism on social media
- US GDP has shrunk for two consecutive quarters – a popular marker of recession
- But Biden has refused to acknowledge this despite record low approval ratings
- Krugman is a Nobel laureate and renowned economist but has a strong anti-Republican reputation and has made a series of incorrect economic predictions
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