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Open original source ↗Most disturbing quote demonstrating how out of touch top 1% is as strapped families flock to food banks: “Housing assistance, rental assistance, that’s very difficult to get. Food is a lot easier” said Brian Greene, head of Houston Food Bank, the country’s largest by distribution
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Americans Tap Home Equity to Keep Spending For the past five months, prices have been rising faster than wages, a turnabout that might have pushed US consumers to cut back. Instead, they’ve kept spending. Consumption rose at the fastest pace in over a year in August, with government data this week showing increases in categories such as cars, clothing and restaurants. To keep it going, households across the income spectrum are drawing on a wide range of resources: tapping into the equity they’ve built in their homes, going to food banks to free up money for other purchases or using ChatGPT to lower grocery bills. (Bloomberg)
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