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US personal savings near historic lows...www.reddit.com/r/wallstreetbets/comments/yjowp1/us_personal_savings_near_historic_lows/?utm_source=share&utm_medium=web2x&context=3
430 sats \ 6 comments \ @zuspotirko 2 Nov 2022 bitcoin
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50 sats \ 0 replies \ @nerd2ninja 2 Nov 2022
This is by design. Gotta boost that "Aggregate demand" don't you know
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50 sats \ 0 replies \ @DemandUtopia 2 Nov 2022
Not sure how "historic" these current lows are. In the 2006-ish to 2009-ish years, rates were lower and even negative:
In 2006, the national personal savings rate calculated by the U.S. Department of Commerce was around negative 1%. It was the second straight year that the measure indicated Americans are spending all of their after-tax dollars and then some. In 2005, the savings rate was negative 0.4%.
-- Is the Negative Savings Rate A Negative for the Economy? (Wall Street Journal, July 12, 2007)
EDIT: wow that article is a fun little time capsule:
While negative rates of saving are not sustainable in the long-term, they do not signal financial stress for U.S. households. Nor are they an early warning of "hard landing" of the U.S. economy.
This was written 14 months before the entire global financial system almost collapsed in Fall 2008)
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0 sats \ 0 replies \ @Atreus 2 Nov 2022
Can confirm. Everyone on Stacker's savings account is basically empty.
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0 sats \ 1 reply \ @BlokchainB 2 Nov 2022
Sad. Gotta play these “investments” games to preserve your wealth.
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0 sats \ 0 replies \ @zuspotirko OP 3 Nov 2022
Well, choosing an retirement account is actually a sound choice over a savings account. At least for middle class and above.
On one hand it's pretty cool that we live in a world where everybody can be an investor. On the other hand it is a shame that we live in a world where everyone has to be an investor and live with the volatility instead of just chilling.
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0 sats \ 0 replies \ @faithandcredit 2 Nov 2022
perfect time to raise rates and strengthen the dollar then. when almost noone holds it!
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