March 1, 2013

THIS SOUNDS UNSUSTAINABLE: Consumer spending up, but income posts largest drop in 20 years. “With income dropping sharply and spending rising, the saving rate – the percentage of disposable income households are socking away – fell to 2.4 percent, the lowest level since November 2007. The rate had jumped to 6.4 percent in December. Savings were the smallest since December 2007.”

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