How Americans are spending stimulus checks

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Last month, and earlier this month; US Taxpayers (and some others) received $1,200 per adult and $500 per child (or dependent) in stipend money from the US government to tide them over during the pandemic for reason lock-downs and business closures.

The struggling worker is just paying his past due bills but some are still working (or earning money) so they have a bit extra to spend or save
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“Given the size of the 2020 stimulus checks, we might have expected large impacts on categories like automobile spending, electronics, appliances, and home furnishings,” according to economists at Columbia University, Northwestern University, the University of Chicago and the University of Southern Denmark.

“Instead, it seems that individuals are catching up with rent and bill payments as well as engaging in spending on food, personal care, and nondurables.”<<<

This is how fast Americans are spending their stimulus checks — and here’s a breakdown of what they’re buying

 

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>>>A fifth issue is the broader digital disruption of the economy. With millions of people losing their jobs or working and earning less, the income and wealth gaps of the twenty-first-century economy will widen further. To guard against future supply-chain shocks, companies in advanced economies will re-shore production from low-cost regions to higher-cost domestic markets. But rather than helping workers at home, this trend will accelerate the pace of automation, putting downward pressure on wages and further fanning the flames of populism, nationalism, and xenophobia.<<<
The Coming Greater Depression of the 2020s | by Nouriel Roubini - Project Syndicate
Let's hope he's not spot on Nouriel Roubini