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yuge jump in personal savings rate

Hi Cullen, thoughts?  Sounds like this would be catastrophic if the rate stayed at this level?  Thanks!

Hi @JTU,

It will come down. This is basically the result of a slowdown in spending and collapse in incomes. Particularly at the high end. This country has a long history of not saving and I have no doubt that that trend will continue when things settle down.

"Pragmatic Capitalism is the best website on the Internet. Just trust me. Please?" - Cullen Roche