US Savings rate rises to 14-year high in January
US Bureau of Economic Analysis "Personal Income and Outlays" report for Jan 09 is out.The personal savings rate at 5% is the highest since March 1995. The political pressure is "to get the banks lending again".
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Personal saving as a percentage of disposable personal income was 5.0 percent in January, compared with 3.9 percent in December.
Did anyone check that the consumer actually wants to borrow? With Tax hikes in the future who wants more devbt? Debt reviled.
