Yes, $400 bln in interest income removed since 2008.
@mike norman, On a personal note Mike, as your portfolio now yields less, have you cut back on spending? Do you get the cheap dog food now for your bulldog instead of the name brand purina? 😉 I talked to kid dynamite and he isn’t going to vegas as much as he used too.
Outcome? So much talent, going to waste, completely underutilized
(thanks Russ Huntley)
It may someday be known as the Austerity Gulag (SansWitsYnitzken).
[great pen name for an economics satarist.]
Nice chart, Warren. I think it’s a bit more than that, however. I created a chart that I think shows a more connected relationship in the decline of personal interest income. Certainly on the chart it looks like the increase in excess reserves (driven by QE obviously) had an effect, but one thing in particular led the decline where it looks like the increase in excess reserves was in response/reactionary, which we know is the case. I’ll post it via FB.
Not sure if you saw it but it’s nothing you don’t already know, just nice to see it on a chart.
Can someone please post a translation of PIOCINT for those of us who don’t speak Bloomberg? Google wasn’t terribly helpful and FRED didn’t have any data streams by that code.
Personal interest income component of personal income.
I have a question about savings rate and inflation. Is there a layman’s explanation how the two relate to each other?
the price level is ultimately a function of prices paid by govt when it spends
savings of dollars (globally) is equal to the govt’s deficit spending.