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Post by blueneck on Feb 1, 2007 16:38:04 GMT -6
Just out today, the US now has a negative 1% savings rate, down from negative .23% last year. The US has not seen negative number over 1% since the hieght of the great depression in 1932 and 1933 when it was a negative 1.5%.
Another bad news number is the manufacturing index is for the second strait month below 50 at 49.3. Any number under 50 is considered a contracting market.
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Post by unlawflcombatnt on Feb 7, 2007 22:50:54 GMT -6
Yes, that negative savings rate means Americans spent more than they earned for the 2nd year in a row.
This can't continue indefinitely. Eventually this credit bubble will burst and the whole house of cards will collapse.
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