DJIA rose by 4% in the first 8 months of this year
9/11/2023, 11:39:26 AM
In the first 7 months of this year, our disposable income, that is, income after-tax, rose by almost $900 billion, and true to form, we spent 9 out of every $10 increase in our income! Surprisingly, despite this increase in expenditures, inflation dropped from 6.5% last December to 3.2% this July. During the same period of 2022, we increased our expenditures significantly more, and thus, the high inflation of last year.