EYE ON THE PIE: We're saving more than you think

For years, I have been listening to Paul Harvey on the radio decrying the low savings rate of Americans. Our seemingly profligate ways, spending nearly all we earn, will lead us to the poorhouse, if not the eternal fires of debtors' damnation. Many of my learned colleagues share this view. Americans are spending too much, consuming too much, saving too little. They tell us the personal-savings rate hit an all-time low in October, at 0.1 percent. That means we put...

 

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