May 29, 2020
NOW IMPOSE CONSUMPTION TAXES AND WE'LL INVEST IT:
U.S. savings rate hits record 33% as coronavirus causes Americans to stockpile cash, curb spending (Maggie Fitzgerald, 5/29/20, CNBC)
The personal savings rate hit a historic 33% in April, the U.S. Bureau of Economic Analysis said Friday. This rate -- how much people save as a percentage of their disposable income -- is by far the highest since the department started tracking in the 1960′s, and surpasses consumer savings during the Global Financial Crisis. April's print is up from 12.7% in March.
Posted by Orrin Judd at May 29, 2020 3:48 PM