Tag Archives: Bear Market

67 percent of Americans are now dipping into savings and using credit as prices soar

Rev 6:6 NAS “And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”

Important Takeaways:

  • Wall Street Sinks into Bear Market, Recession Possible as Americans Dip into Savings Just to Pay Soaring Bills
  • On Wall Street, there are growing fears a recession could be coming, and a big decision anticipated Wednesday from the Federal Reserve is causing even more concern.
  • The S&P 500, the index tied to most 401K retirement plans, finished down nearly four percent Monday and has now plunged more than 20 percent for the year
  • Inflation is pounding consumers. Everything from gas – now averaging more than $5 a gallon nationally – to groceries is going up.
  • A new survey shows 67 percent of Americans are dipping into savings to pay their bills and some are resorting to credit cards.

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