Bloomberg TV

Thursday, September 01, 2005

It's Worse Than Zero Savings

Sometime ago, I complained that Bloomberg TV omits to mention the incredible plunging household savings rate. Today's most recent report sheds more light on the so-called Goldilocks economy: the savings rate is now at -0.6%. In its inimitable way, MarketWatch publishes top stories in something like 30-point type. Today's headliner--as eye-catchingly distressing as it is--actually understates the manic superconsumption in the US right now. Mark my words: if sanity doesn't take hold among US consumers, a $1 trillion current account deficit in 2006 is a distinct possibility. Bloomberg, please take note and report this figure.

WHAT'S THE MATTER WITH YOU? DON'T READ BLOGS! BUY STUFF ONLINE! AFTER THAT, HEAD TO THE SHOPPING MALL/AUTO DEALER/LOCAL EATERY AND spend, spend, SPEND! (Just kidding; I'll support the manic overconsumption by buying lots of medication.)

Posted by Emmanuel |

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