Economy—Relations of Stimulus Check, Personal Saving Rate, and Jewelry Sales
In 2020, over $6 trillion of stimulus money was created from thin air by the Federal Reserve and injected directly into the US economy by Donald Trump (and continued by Joe Biden) through COVID relief checks, PPP loans and bailouts for numerous corporations. Again, in 2021, Biden instituted the 'American Rescue Plan Act' which added $1.9 trillion to the pile. That's at least $8 trillion in helicopter money dropped on top of the US economy. [4] In this article, we will focus only on the Economic Impact Payments paid to the lower- and mid-income earners. Figure 1. Personal Saving Rate tagged with COVID-19 Stimulus Checks for Individuals [2] Stimulus Checks vs Personal Saving Rate The IRS issued three Economic Impact Payments during the coronavirus pandemic for people who were eligible: [1] 1st Stimulus Checks $1,200 in April 2020 2nd Stimulus Checks $600 in December 2020/January 2021 3rd Stimulus Checks $1,400 in March 2021 Figure 2. Price of Sig net Jew...