Trying To Maintain Rationality

Wednesday, February 01, 2006

The Great Depression Was So Great That... We're Going To Give It Another Whirl?

This past Monday, the Department of Commerce's Bureau of Economic Analysis released a report displaying how our nation's personal savings rate was actually *negative* during 2005... -0.5%, to be exact.

According to an article by Martin Crutsinger, Associated Press Economics Writer:

"Americans not only spent all of their after-tax income last year but had to dip into previous savings or increase borrowing.

The savings rate has been negative for an entire year only twice before — in 1932 and 1933..."


Dust bowls and bread lines.


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