Re:Why inflation is not a threat
by iso1210 on Sunday March 14, 2021 @02:58PM
(#26457805)
He's claiming that people who go into their overdraft and credit cards every month have $100 in their bank. They don't, most people live paycheck to paycheck, their bank balance just before payday is $nothing
[ Parent
| on HN ]
this is definitely not true. the median US household has several thousand dollars in their checking account. they might be living paycheck-to-paycheck in the sense that their net cashflow is close to zero, but they don't have nothing in their bank account just before payday. you would have to go deep into the 20th percentile to find households like you describe.
https://www.thebalance.com/what-is-the-average-bank-account-...