Joined Nov 11, 2007
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U.S. Savings Rate Near Record Lows

“There was some good news for headline scanning algos this morning, when both personal incomes and spending came in modestly higher than expected, with incomes rising 1.1% compared to an estimated 0.8% increase, while spending was up 0.7%, also higher than the 0.6% expected. But while the superficial headline grab did indicate a modestly better climate for both spending and incomes, it was a look under the cover once again that revealed the full extent of the pain that US consumers continue to find themselves in, over 5 years since the start of the second great depression.

First, the bulk of the bounce in spending was driven by a surge in Non-Durable Goods, which rose by $48.5 billion in one month, and amounting to 61% of the total increase in personal outlays in February. This was the biggest monthly jump since the onset of the financial crisis: hardly inspiring much confidence for those companies which are wondering whether to ramp up capital expenditures and spending, especially since spending onDurable Goods declined by $400 million in February….”

Full article

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  1. NoBull

    When you pay .001% to save and only insure up to X per depositor … there’s not a lot of reason to save. Might as well invest and buy shit.

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  2. NoBull

    A 6 month CD pays .98% from Ally bank.

    You tell me if that’s really all that different from .001% in my exaggerated numbers?

    Unless you are dropping hundreds of thousands into savings or CDs.. you are getting chump change.

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