Thursday, February 01, 2007

Personal Savings Lowest Since Great Depression

Americans' personal savings rates have fallen to a 74-yr. low into negative savings, according to an article by the Associated Press. In fact, it's the lowest it's been since the Great Depression.

There's a lot of speculations as to why Americans are spending more than they're making. Perhaps it has to do with very economic matters, such as high housing prices causing people to feel like they have more wealth than before.

But maybe it has to do with our consumer culture and this need to always be spending.

Whatever is the case, it can't last for very much longer until people have to change their ways.

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