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Topic: U.S. Personal Savings Rate 1959 to Present
| Author | Message |
| UGoGirl | Posted – 7/24/2007 8:15:02 PM | show profile Yes, you guessed it. Since data was collected by the Federal Reserve Bank of St. Louis, the U.S. has never had a negative personal savings rate until the last few years. Through the 1960s, 70s, and mid 80s we were saving about 7 to 12 percent. Now it's about negative 2 percent savings rate (that is, going into debt by 2 percent on average). BUT, we gotta keep that economy going... spend, spend, and spend some more... This just can't end well... http://research.stlouisfed.org/fred2/series/PSAVERT/ |
| Vox-o | Posted – 7/24/2007 9:25:56 PM | show profile Whose fault is this? |
| mailbag | Posted – 7/24/2007 9:42:40 PM | show profile | email poster It is also interesting to compare those charts to the average salaries. Ah ha! disbelievers and you all know who you are. In 1970 the median salary was $9,867, up from $5,620 in 1960. Looks like savings held an average of 7%. So, with the tax burden and all that expensive gasoline, milk, clothing, television sets, and monthly electric bills -- we were still able to save quite a chunk of our take home pay. In 2007 - at $50,000 ave, we are living at 2 percent deficit per person. Nice. |
| UGoGirl | Posted – 7/24/2007 10:16:36 PM | show profile It's your fault Vox-o. All your fault. |
| UGoGirl | Posted – 7/24/2007 10:21:20 PM | show profile Vox-o replied, "Oh, you're so immature. Grow up." |
