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What the Dramatic Turn in the U.S. Saving Rate Could Mean to You
During the past few weeks of exciting “green shoot” news, a very important economic statistic has been ignored: The U.S. saving rate.
U.S. citizens have been saving less and less since the early 1980s. And the saving rate even turned negative during the height of the real estate bubble.
But in April, the personal saving rate in the U.S. surged to 5.7 percent, a 15-year high. That represents a massive trend change and has important consequences for the future. But before I address them, I want to remind you of …
The Formula for Prosperity
Let’s start with an example of a very…
11Jun2009 | Money and Markets | 0 comments | ContinuedMore Propaganda From Government
Its your duty to spend, saving is unpatriotic!!
After the September 11 attacks, President George W. Bush urged Americans to go shopping. As he hands out $789 billion in economic stimulus, President Barack Obama has been less clear — and Americans simply don’t know whether they should save or spend.
"It’s a tough question," said Cincinnati electrician and small businessman Mike Cavanaugh. "I think that in general the government wants us to spend. While saving may be better in the long run, spending I think can be contagious because we see each other doing it."
In Scottsdale, Arizona, business owner Bill Austin said…
16Feb2009 | The Real Deal | 0 comments | Continued
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