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Savings-Rate Revisions Erase $140BN in American’s Wealth as Fed’s Favorite Inflation Indicator Jumps to 6-Month High

by Tyler Durden, Zero Hedge
November 27, 2024
in Curated, Opinions
Savings Rate

Editor’s Note: President Donald Trump is almost certainly going to fix the economy. It would take a bunch of broken promises and some massive unforeseen financial events to prevent him from taking our decimated economy back to the stratosphere. But it’s important that Americans understand this isn’t going to be a quick fix. Many indicators are already showing signs of a return to normalcy but there has been so much damage done the last four years that we are still going to see massive speedbumps and even a couple of roadblocks ahead.

Consumer confidence is up. The stock market, crypto, and gold numbers have looked solid after the initial post-election shock to the system. Things are looking good, but that doesn’t mean we can become complacent. It still behooves Americans to be frugal with spending until all of the dust settles and President Trump’s economic plan can truly kick into action. With that said, here’s some important information from Zero Hedge…

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(Zero Hedge)—The Fed’s favorite (when it’s going down) inflation indicator – Core PCE – ticked up noticeably in October to +2.8%, the highest since April…

Headline PCE rose 0.2% MoM (as expected) lifting it 2.3% YoY (up from +2.1% YoY prior)…

A jump in Services and Durable Goods costs drove the reignition of inflation…

The so-called SuperCore PCE (Services ex-shelter) surged up to +3.51% YoY…

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Incomes – for once – grew at a faster rate than spending (+0.6% MoM vs +0.4% MoM respectively)….

…and while that bumped up the savings rate MoM, thanks to massive revisions, Americans lost $140BN in personal savings… out of nowhere…

Oh look, the savings rate was just revised sharply lower for most of 2024 and some $140BN in personal savings was magically erased. pic.twitter.com/T3lGgLCIEQ

— zerohedge (@zerohedge) November 27, 2024

Remember when they revised it from 2.4% to 5.0% in late September to bump up GDP? Well, we guess Kamala isn’t president.. so all bets (adjustments) are off…

And finally, imagine how bad things would be if the government wasn’t handing over billions to ‘we, the people’ all of a sudden…


  • Low-Cost and No-Cost Emergency Preparedness Measures


Bye, bye, rate-cut expectations!…






Why One Survival Food Company Shines Above the Rest

Let’s be real. “Prepper Food” or “Survival Food” is generally awful. The vast majority of companies that push their cans, bags, or buckets desperately hope that their customers never try them and stick them in the closet or pantry instead. Why? Because if the first time they try them is after the crap hits the fan, they’ll be too shaken to call and complain about the quality.

It’s true. Most long-term storage food is made with the cheapest possible ingredients with limited taste and even less nutritional value. This is why they tout calories so much. Sure, they provide calories but does anyone really want to go into the apocalypse with food their family can’t stand?

This is what prompted the Llewellyns to launch Heaven’s Harvest. They bought survival food from multiple companies and determined they couldn’t imagine being stuck in an extended emergency with such low-quality food. They quickly discovered that freeze drying food for long-term storage doesn’t have to mean sacrificing flavor, consistency, or nutrition.

Their ingredients are all-American. In fact, they’re locally sourced and all-natural! This allows their products to be the highest quality on the market, so good that their customers often break open a bag in a pinch to eat because they want to, not just because they have to due to an emergency.

At Heaven’s Harvest, their only focus is amazing food. They don’t sell bugout bags, solar chargers, or multitools. They have one mission – feeding Americans in times of crisis.

What they DO offer is the ability for people to thrive in times of greatest need. On top of long-term storage food, they offer seeds to help Americans for the truly long-term. They want them to grow their own food if possible which is why they offer only Heirloom, Non-GMO, Non-Hybrid, Open-Pollinated seeds so their customers can build permanent food security on their own property.

Visit the Heaven’s Harvest website and use promo code “Patriot” for a discount today!

Tags: EconomyInterest RatesLedeThe FedTop StoryZero Hedge
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