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1. Pudifoot
   January 31st, 2008 at 8:50 am

   Spen more? Hasn’t there been enough spenning in the world!?!

2. tomtheman5
   January 31st, 2008 at 8:54 am

   Well, spending does keep the economy afloat. Can’t have wages, profit, if you there’s no one on the other side spending…

   But the American saving rate is pitiful. Actually, wouldn’t the rate be negative, considering most Americans are in debt?

3. Tempscire
   January 31st, 2008 at 9:44 am

   I was about to say, tomtheman5, that I just took a personal finance course last semester, and, yeah, negative savings right now, bottoming out a trend over the last 20 years to save less and less.

4. Jerse
   January 31st, 2008 at 10:28 am

   Actually, the average US savings rate is between 0-2 cents per dollar. That’s probably still 0%, but I though I’d clear that up.

5. Benagain
   January 31st, 2008 at 10:30 am

   Quick comment, obviously having a negative savings rate is not that good, but too high of one isn’t fantastic. I was in China for a semester abroad and one of my classes mention their absurdly high savings rate as a problem since the money isn’t doing anything in most cases.

6. sparge
   January 31st, 2008 at 10:32 am

   “Television is nothing more than a sales tool”

   Duh. TV shows are not the product. TV watchers are the product.

7. Tony LaRocca
   January 31st, 2008 at 11:51 am

   In the days following 9/11, I noticed that in every speech, President Bush worked in the phrase “go out and shop” over and over again: “I’m glad to see women going out shopping with their Muslim friends,” and “I’m glad to see Americans aren’t afraid to go out and shop.” are a few examples. Someone else noticed, did a little research, and wrote an article about how 2/3 of America’s economy comes from the middle class buying products made overseas in malls. Sadly, this is a formula that our government will never take steps to fix.

8. artbot
   January 31st, 2008 at 12:28 pm

   Hmm, wages have flattened or gone down the last 20 years. Consumer goods, food and energy have gone up up up. If only we could put some “top…men” on it to figure out why we aren’t saving enough.

   Our Motto: Apocalyp…I mean, America: Still Blindly Consuming!

9. Christophe
   January 31st, 2008 at 4:32 pm

   Yep at $0.40 an hour it’s easy to save 20 cents.

   …just kidding… unfortunately.

10. Dave
    January 31st, 2008 at 4:52 pm

    “So, what is the American government doing about our dismal national saving rate? ”

    So, why do you expect the government to do something about the dismal savings rate? The problem is the government; more specifically, leftist politicians who want people to rely on the government for everything, and write policy accordingly.

11. Alex
    January 31st, 2008 at 4:54 pm

    Aw, you know what I mean pudifoot! I’ve fixed it nonetheless.

12. HappyWithoutCable
    January 31st, 2008 at 5:12 pm

    One solution… Get rid of cable and rent your favorite shows on dvd from (insert favorite online dvd rental company here). For about a third of the price you would pay for basic cable, you could watch all the best shows without the commercials.

13. artbot
    January 31st, 2008 at 6:07 pm

    #12 - this is exactly what we did. I haven’t seen any commercial tv in two years and don’t miss it a bit. When I’m somewhere there’s a tv, it’s almost assaultive.

    While saving that $80/month (for basic cable!), we get the added bonus that our 27 month old speaks in complete & detailed sentences, has well developed social skills, is amazingly polite, doesn’t know what a commercial is, doesn’t know what a “product tie-in” is, and never begs for crap he saw on tv. We are ecstatic that his first choice for fun is to play outside or read a book or play with his blocks.

14. Tempscire
    January 31st, 2008 at 7:03 pm

    Jerse:

    “According to the BEA, the national annual savings rate fell in 2005 to its lowest point since the Great Depression: negative 0.4 percent. Since then, it has continued to fall, registering at negative 1.6 percent in May 2006 and negative 1.5 percent in June. Compare those numbers with 1985 when the national savings rate hit a record 11.1 percent and it’s clear why economists are raising the warning flag.” from BankRate

    Google “American savings rate” and you’ll see many other sources stating it’s below 0%.

15. supagold
    February 1st, 2008 at 3:39 pm

    Our “savings” rate is so low, because savings accounts are just about the stupidest place to put your money. Which is what this statistic is measuring: how many people have money in savings accounts. You’re essentially getting 1-2% return above inflation (at best) to let a bank go and invest your money and pocket the difference. I have zero savings, but lots of money invested in my 401k, mutual funds, and money market accounts. I feel like I’ve got a pretty good handle on the future, but according to you I’m doing terrible.

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