So, America starts saving again.
It's about time if you asked me. Just that it is a bit inopportune time. Unfortunately and ironically, we need consumers to spend first so that we can get ourselves out of the ditch we are in. Then, start saving.
Saving right now might be the best thing to do on an individual basis, but collectively, it would bring the world economy to a greater halt. As it is, every day, you now hear factories across the globe (including and most importantly, in China), closing shop and laying off people. We also hear how the shipping rates for containers crossing the oceans have come down. And how containers are piling up at the docks. Finally, the holiday spending/retail figures that came out today aren't looking good either.
We need to spend. We need to save. We need to spend... we need to save. It's confusing.
I think Saturday Night live captures this the best.
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