[Winning]

So what happens if people have plenty of money but won't spend it due to the uncertainty that this situation has caused?

Due to my aggressive cost cutting endeavours, my various holding accounts (personal & business) that I use to pay all my expenses out of have never been at such a high balance for such an extended amount of time. Which is due to how I have cut spending.

The week of the shutdown I was supposed to have the Iron door on my house refinished, I canceled that.. Next month I was suppose to get my entire foundation pier'd. I have put that on hold also, so I had to call the structural engineer and foundation company to cancel that. Before the shutdown I was doing a lot of research trying to figure out if I was going to upgrade my home theater setup to 77" OLED or 75" QLED. Since the shutdown I now feel that my current tv is just fine and I am no longer in the market to upgrade.. I could list several other examples.

I am sure I am not the only person that has a lot more cash in the bank now then before the outbreak. I would think other people are also changing their plans and how they are spending money.

I wonder if the Banks will release any numbers regarding the average amount of money people have sitting in there accounts now vs before the shutdown.

I feel if we don't return to being consumers and start back circulating the cash, the stimulus packages will not work as intended. I am preaching to myself. But I just don't feel comfortable spending money on any non essential things right now.

[Winning]

I am sure I am not the only person that has a lot more cash in the bank now then before the outbreak. I would think other people are also changing their plans and how they are spending money.

I wonder if the Banks will release any numbers regarding the average amount of money people have sitting in there accounts now vs before the shutdown.

Figured this was the case!

So would it be safe to assume a lot of you all also have higher than normal cash reserves on hand as compared to before the pandemic?

US banks have seen a record $2 trillion surge of deposits since the coronavirus crisis began.

https://markets.businessinsider.com/...0-6-1029330309