Friday, October 31, 2008

Savings Rate Rise in September

The Savings Rate is Rising

In this morning's report on personal income and spending, word came that the savings rate (after-tax income less spending) rose from 0.8 percent in August to 1.3 percent in September.

Uh oh - Keynesian economists are not going to stand for any fall in aggregate demand. Bernanke better get those helicopters fueled up. The proletariat isn't obeying orders to continue borrowing and spending. 

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