Record Retail Inflows: Where Is All The Money Coming From?
A couple of weeks ago, I showed Adam Taggart the following chart of record retail levels of household cash as a percentage of total financial assets. This chart is hard to square with the financial media narratives. For example, two stories ran side by side this month, and on the surface, they cannot both be true. In the first, a resurfaced clip of Kevin O'Leary scolding young workers for buying $28 lunches went viral, and the replies filled with people explaining they're broke, locked out of housing, and finished apologizing for a coffee.6 In the second, record retail inflows poured…
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