CNN will apparently always be CNN, whether it’s theire political (mis)reporting or their business section. Their recent article, “New threat to the economy: Americans are saving like it’s the 1980s” pretty much sums that fact up aptly and succinctly.
Americans are slashing their spending, hoarding cash and shrinking their credit card debt as they fear their jobs could disappear during the coronavirus pandemic. US credit card debt suddenly reversed course in March and fell by the largest percentage in more than 30 years. At the same time, savings rates climbed to levels unseen since Ronald Reagan was in the White House.
Yeah, CNN has a problem with people saving money instead of staying and/or going deeper into debt. After all, they describing increasing one’s savings as “hoarding cash.” They see not spending money that you don’t have and planning to rely more upon yourself during a crisis as threatening behaviors.
Then, I suppose this is to be expected. CNN was, is, and always will be CNN, a leftist mouthpiece and part of the propaganda corps of the Democrat party. As such, their is no part of their ideology that isn’t threatened by people behaving in a responsible manner, especially involving their money.