Retail sales in the US jumped a whopping 9.8% in March, and sales of clothing and other necessities jumped into the double digits. CNBC (above) noted there are indications that people are shopping at brick and mortar stores, not merely online.
And a lot of stimulus is going toward BILLS. NBC:
The number of recipients looking to put their stimulus checks towards their near-term financial situation remains elevated at 67 percent, according to analysis from Bankrate.com. Even those among the highest-earning households, making $80,000 or more annually, are continuing to feel the brunt of the pandemic, with nearly half saying they will spend their check in this way.
“For all the talk of revenge spending and pent-up demand for travel, you wouldn’t know it by seeing just 13 percent of stimulus check recipients indicating that any of the money would be spent on discretionary activities or nonessential items," said Greg McBride, chief financial analyst at Bankrate.
What, no stock buybacks?
It's so funny it's sad, how immediately analysts can see the impact of trickle-UP economics. Yes, corporations like WalMart and Amazon are getting rich off of the stimulus, and at the same time, American households get things like diapers, groceries, and blue jeans. It's a win-win.
More like this, please.
