Savings rate moves into NEGATIVE territory
A report named "USA Personal Income and Its Disposition" from the "USA Department of Commerce Bureau of Economic Analysis since 1953" (bea.gov) says that the personal savings rate had never dipped below 7% in 1953 (and was usually comfortably higher than that). People used to save money.By 1993, the dollar was so devalued, in comparison, that people were only able to save 5.8% of income. And since then, thirteen years later, it has gotten so progressively bad that not only are people now saving nothing, zero, zip, zilch, squat, but they have to constantly go deeper and deeper into debt! Every month!
The actual number was that savings have hit a new low; a minus 0.9% of income!
Does THIS sound like the behavior of a rational, educated people who should be trusted with nuclear weapons? Of course not! No wonder the world hates and fears us!
Click HERE for the FULL Story
posted by G @ 3:51 PM
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