Guest
10-23-2008, 01:31 PM
The good news is that Americans have actually begun to save. After several years of a negative savings rate, within the last couple of months savings has jumped dramatically. The reason isn't so pleasant--people are scared to death of our current economic woes. But if we can keep it up even after the economy recovers, that would be a very good thing. I'm not holding my breath. People have gotten waaay to accustomed to living off thr swipe of a credit card.
The bad news is that the increased savings results from decreased spending which will drive our economy deeper into the doldrums and for a longer time. Our economic future definitely looks troubled.
The bad news is that the increased savings results from decreased spending which will drive our economy deeper into the doldrums and for a longer time. Our economic future definitely looks troubled.