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Last month I wrote a piece where I managed to mangle a very simple point. While the reported saving rate had fallen in April, it was actually due to people paying more capital gains taxes, not the result of households spending down savings. The issue here is straightforward. Saving is defined as the portion of More
The post People Are Not Spending Down Their Savings, Revisited appeared first on CounterPunch.org.
This content originally appeared on CounterPunch.org and was authored by Dean Baker.