{"id":43351,"date":"2019-01-31T07:00:45","date_gmt":"2019-01-31T12:00:45","guid":{"rendered":"https:\/\/olduvai.ca\/?p=43351"},"modified":"2019-01-31T07:00:47","modified_gmt":"2019-01-31T12:00:47","slug":"government-shutdown-reveals-nasty-truth-about-americans-savings","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=43351","title":{"rendered":"Government Shutdown Reveals Nasty Truth About Americans\u2019 Savings"},"content":{"rendered":"\n
\"government<\/figure><\/div>\n\n\n\n

Government Shutdown Reveals Nasty Truth About Americans\u2019 Savings<\/a><\/strong><\/h3>\n\n\n\n

The temporarily-ended government\u00a0shutdown<\/a>\u00a0didn\u2019t have had a large effect on the U.S. economy, but it may have revealed something disturbing about the savings of 80% of Americans.<\/p>\n\n\n\n

They aren\u2019t prepared if the economy get worse.<\/p>\n\n\n\n

MarketWatch published<\/a> some recent findings in an op-ed (emphasis ours):<\/p>\n\n\n\n

Why do a few weeks without pay turn into a crisis for many families? Simple: Nearly 80% of Americans live paycheck to paycheck. That\u2019s a problem when you have little to no savings. In fact, it\u2019s akin to playing financial Russian roulette.<\/p>

And the problem is terrifyingly pervasive. According to a recent GoBankingRates survey, only 21% of Americans have more than $10,000 in savings, with nearly 60% having less than $1,000 in savings.<\/p><\/blockquote>\n\n\n\n

The findings come from a recent GoBankingRates survey<\/a>, which contained the following chart reflecting MarketWatch\u2019s findings:<\/p>\n\n\n\n

\"american<\/figure>\n\n\n\n

With interest rates on the rise<\/a> and the economy at levels of uncertainty<\/a> not seen since 2008, it\u2019s crucial for Americans to buffer their income with some sort of hedge.<\/p>\n\n\n\n

Without reliable \u201cgo-to\u201d savings and a plan, there could be tough times ahead if the market continues diving into recession.<\/p>\n\n\n\n

But the nasty truth appears to be most Americans don\u2019t have enough savings, if any at all, to get them through the tough times.<\/p>\n\n\n\n

Right now, government-reported\u00a0unemployment<\/a>\u00a0is the lowest it\u2019s been since 2000. But as you can see from the chart below, a recession tends to follow the \u201clowest\u201d unemployment rates:<\/p>\n\n\n\n

\"civilian<\/figure>\n\n\n\n

It\u2019s not for sure that this is a signal of an imminent recession<\/a>, but it sure seems like enough circumstantial evidence to consider looking into your savings options. That, and the fact that the shutdown has only been \u201cended\u201d until February 15. After that, we may see \u201cPart II.\u201d<\/p>\n\n\n\n

And the shutdown isn\u2019t only affecting individuals. It even drew the attention of top CEOs.<\/p>\n\n\n\n

 \u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

Government Shutdown Reveals Nasty Truth About Americans\u2019 Savings The temporarily-ended government\u00a0shutdown\u00a0didn\u2019t have had a large effect on the U.S. economy, but it may have revealed something disturbing about the savings of 80% of Americans. They aren\u2019t prepared if the economy get worse. MarketWatch published some recent findings in an op-ed (emphasis ours): Why do a few […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[18769,9331,5220,2162,827],"class_list":["post-43351","post","type-post","status-publish","format-standard","hentry","category-economics","tag-birch-gold-group","tag-government-shutdown","tag-marketwatch","tag-savings-rate","tag-united-states"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/43351","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=43351"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/43351\/revisions"}],"predecessor-version":[{"id":43352,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/43351\/revisions\/43352"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}