On Thursday, July 13, 2017, USA Today published an article titled "Nest egg Nation: Americans are hoarding money in their checking accounts". This article describes how the money in banks has risen substantially over the past decade. Americans are not spending big sums of money because of the weak stability of the economy. Even with a stable job, Americans are reluctant to spending money. Instead, their bank accounts are getting larger and larger. Many small retail businesses are staying away from any capital spending until Americans decide to begin shopping again. Due to holding back on capital spending, the small business owners also have some money stored in their checking accounts. At this rate, banks will be able to give out more loans and in larger amounts.
No comments:
Post a Comment