I don't hardly trust calculations of "savings rates". My disposable income is $X and my expenditures are $X. Did I "save" anything? I spent $30K on a house ten years ago and it's now worth $1jillion. Did I "save" anything? I invested $30K ten years ago and it's now worth $1jillion. Did I "save" anything? Ten years ago I was a pauper. Now I'm a jillionnaire. Did I "save" anything?
there are more millionaires per capita in hk than anywhere else in the world. red china owns over 20% of us treasury debts. chairman mao would be proud. ps, reagan and his thugs trained osama back in the early '80s. aint life great.
Has been in trouble for 200 yrs or so, thus get over it. We live in the most prosperous and most adaptable society ever.
History has shown repeatedly that when individuals or entire cultures get just a little too smug and self-satisfied, it is usually the first step on the road to ruin (or at least a one-way ticket to Palookaville). I suppose we should at least enjoy the ride.
=============== Maybe thats the reason premarket dipped a few cents this mourning???; however those studies usually greately underestimate savings rate. Memory refresh. Pres ronald Reagan/Cap Weinburger; helped bring down evil empire/bombed living daylights near terror sponsor Libya leader Quadaffi, . It helped lots. And speaking of underestimating, Like; extra money in brokerage accounts,, few extra gallons in gas tank time times millions of Americans
People who live in So. Ca. are in the same situation that people were / are in in the bay area. Namely, they are priced out of the market and will take a hit unless they keep churning their investment gains in housing. Folks in these areas that make less than about 300K per year really cant make fianancial sense of transacting their home and buying another: they will take a huge property tax hit - assuming they have been in their home for more than 6 or 7 years. Most people are opting to "remodel" their home and build for more space or simply transact and move to another area - most often out of california. This is a huge problem for california and really makes it untenable to locate any type of employee base in either the bay area of even most of So. Ca. with the possible exception of riverside or san bernadino counties..... but then if you have to locate in those areas there are better locations out of state .....