Weâ??re saving money again

June 26, 2009
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Americans have suddenly gotten serious again about saving money.

In April last year, we saved absolutely nothing; by May this year the rate had shot to nearly 7 percent, the highest in more than a decade, and some economists predict a return to the long-recommended level of about 10 percent.

If this continues, it means the country will need to borrow less from China and other lenders, but also that the economy wonâ??t roar again anytime soon. In other words, expect a muted job market for a long time to come.

Hereâ??s a question, though. Will this renewed interest in saving last? Or will we slide back into old habits?

Your thoughts?
  • It'll definitely last for me.

    As will paying far less than 33% of net in house payments. That's just nuts.

    So will paying lower taxes by using tax-deferred savings vehicles; throwing more money into 401k right now while prices are depressed will pay big dividends in 20 or 25 years when I'm interested in retirement.
  • I've been saving 10% of my income for years and am looking for ways to save ad invest more. Like thundermutt said, I'm looking at this time as an opportunity to invest for the future.

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  1. In reality, Lilly is maintaining profit by cutting costs such as Indiana/US citizen IT workers by a significant amount with their Tata Indian consulting connection, increasing Indian H1B's at Lillys Indiana locations significantly and offshoring to India high paying Indiana jobs to cut costs and increase profit at the expense of U.S. workers.

  2. I think perhaps there is legal precedence here in that the laws were intended for family farms, not pig processing plants on a huge scale. There has to be a way to squash this judges judgment and overrule her dumb judgement. Perhaps she should be required to live in one of those neighbors houses for a month next to the farm to see how she likes it. She is there to protect the people, not the corporations.

  3. http://www.omafra.gov.on.ca/english/engineer/facts/03-111.htm Corporate farms are not farms, they are indeed factories on a huge scale. The amount of waste and unhealthy smells are environmentally unsafe. If they want to do this, they should be forced to buy a boundary around their farm at a premium price to the homeowners and landowners that have to eat, sleep, and live in a cesspool of pig smells. Imagine living in a house that smells like a restroom all the time. Does the state really believe they should take the side of these corporate farms and not protect Indiana citizens. Perhaps justifiable they should force all the management of the farms to live on the farm itself and not live probably far away from there. Would be interesting to investigate the housing locations of those working at and managing the corporate farms.

  4. downtown in the same area as O'malia's. 350 E New York. Not sure that another one could survive. I agree a Target is needed d'town. Downtown Philly even had a 3 story Kmart for its downtown residents.

  5. Indy-area residents... most of you have no idea how AMAZING Aurelio's is. South of Chicago was a cool pizza place... but it pales in comparison to the heavenly thin crust Aurelio's pizza. Their deep dish is pretty good too. My waistline is expanding just thinking about this!