And it seems that some recipients of those free money cheques did opt to put some of their wealth outside the system. Following the first round of stimulus, some of the leading crypto exchanges indicated an uptick in deposits to the value of $1,200. The Democrats & Republicans are thrashing out a second round of stimulus and it seems odds on that this will include free money cheques.The personal savings rate in US has, unsurprisingly, shot up from average 7.9% to 23% from the period of March this year, according to this stat
It would suggest to me that in the event of full re-opening of economies there will be, combined with increases in government spending across the globe, a surge in demand. Will this demand bring forth an inflationary effect?
Options to keep (some of) your wealth outside this system have never been needed more imo.
You would imagine that the pandemic would leave the average person in a worse position. However, disposable income in 2020 is far more than in 2019.