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May 1, 2007
Bernanke Advocates More Saving
“Saving is critical,” Bernanke said in response to questions after a speech at Montana Tech.
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Source Data:
St. Louis Fed: Real Personal Saving per Capita
St. Louis Fed: 3-Month CD
On a person note, I've never saved as much as I have over the last two years, and my savings will grow starting next month.
ReplyDeleteIf you are saving, you are not spending, and the smart ivory tower people at the Fed want more spending, not saving. Only bad people save and they must be punished.
None of that really matters because of ... Robots!.
Not certain about this, but I believe that deleveraging counts as savings in this reckoning.
ReplyDeleteKinda makes accounting sense if debt is negative saving - but it looks as if people have been salting it away from '05 until recently.
Somehow, I have a hard time believing that this really is a picture of actual savings.
JzB
Mr Slippery,
ReplyDeleteFrom your link...
And there is nothing some central banks' printers can do about that.
Go figure!
Jazzbumpa,
ReplyDeleteI believe you are right. I also believe your conclusions are right.
And then there is income inequality. If one rich person saves a lot and a great many poorer people live paycheck to paycheck (at best) while attempting to somehow pay down their debts, is that really saving?