blog cacophonyI was reading a 401(k) newsletter from my employer this morning, and in one sidebar graphic they showed the US savings rate declining over the past several years. This is the amount that US families are saving from their income. The savings rate declined to zero percent (0%) in June of this year.
What confuses me, though, is the caption. It said that 0% was the "second-lowest rate since the great depression."
How, exactly, is zero percent the second-lowest rate in 60 years?
November 1, 2005
How is that possible?
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1 comment:
Negative savings rate during the depression? i.e., people not only not saving, but spending their existing savings.
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