from King World News
Look at what is happening to US household incomes.
May 5 (King World News) – Gerald Celente: In March, U.S. household income shot up 21.1 percent from February, the U.S. Commerce Department reported, setting a record one-month jump and fueling first-quarter economic growth of 6.4 percent.
The windfall, which included $1,400 in federal payouts to most U.S. adults, sent consumer spending up 4.2 percent and personal consumption spending 10.7 percent higher in March, the biggest monthly gains since June 2020.
The stimulus payments accounted for $3.948 trillion of the month’s extra $4.213 trillion in household income, according to the Wall Street Journal…