Pandemic Wiped Out Entire Savings Of 20% Of US Households
October 15th, 2021Via: ZeroHedge:
But to get a sense of just how precarious the everyday existence of the lower classes is, consider the following stunning fact: Bloomberg reports that according to a poll of 3,616 adults aged 18 and older from NPR, the Robert Wood Johnson Foundation and the Harvard T.H. Chan School of Public Health released on Tuesday, for many Americans the Covid lockdowns – with nowhere to go and nothing to do – was a time to save. But for almost 20% of U.S. households, the pandemic wiped out their entire financial cushion.
The share of respondents who said they lost all their savings jumped to 30% for those making less than $50,000 a year, the poll found. Black and Latino households were also harder hit.
