Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Archie Meeties who wrote (76960)	3/27/2008 1:58:55 PM
From: benwood	Read Replies (1) of 116555

The number is undoubtedly less that 100 million; gathered from many sources and I don't have them on hand. Just look to the average savings balances of households, or household assets. Stir in our negative savings rate, which includes IRA and 401k type plans, and it reveals pretty grim picture across the US. Our gov't is simply a reflection of us -- that is, at every level, we have the same dysfunctional inability to sock away for a rainy day. Instead, we live beyond our means at every level unless there's a state constitutional mandate for a balanced budget. Even then, the spending goes on beyond the means with bonds being the mechanism, hoping upon hope that no downturn ever appears again as that will topple the cart.

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