Doug Henwood quoted: Meanwhile, among families in the lowest 40 percent of the income distribution, saving rates actually rose noticeably--they nearly doubled between 1992 and 2000--and by 2000 these relatively poor families were saving at considerably higher rates than other American households." <...>
Are IRAs and 401k plans considered savings? If not, are these families REALLY saving anything at all if their money is in .25% savings accounts, savings bonds... with inflation and costs of living what it is in real world terms, not according to the fed's estimation? Speakin of estimations and statistics that lie, I got a hysterical laugh from Moody's US employment numbers yesterday: http://www.economy.com/cnflow/graphs/chartbook/income/CHT_R_Employment.png The caption reads: The January employment report suggests a soft landing for the labor market. In the context of the large benchmark revision and recent monthly upward revisions, the weaker-than-expected January employment number may well be revised away. I think the legitimate statistical basis of the US economy has been "Revised Away". Leigh Overheard in Santa Cruz: "I used to work on servers... Now I AM one."
