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Americans have suddenly gotten
serious again about saving money.
In April last year, we saved absolutely nothing; by May this year the rate had shot to nearly 7 percent, the highest in more
than a decade, and some economists predict a return to the long-recommended level of about 10 percent.
If this continues, it means the country will need to borrow less from China and other lenders, but also that the economy wonâ??t
roar again anytime soon. In other words, expect a muted job market for a long time to come.
Hereâ??s a question, though. Will this renewed interest in saving last? Or will we slide back into old habits?
Your thoughts?
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