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Politics : Ask Michael Burke

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To: Joseph G. who wrote (32876)	9/25/1998 2:35:00 PM
From: Mike M2	Read Replies (3) of 132070

Joe, I have a ? with respect to the savings computation is the employer 401 k contribution included in the numbers? Either way the savings rate in the U.S. is dismal . The complement to this low savings rate is that consumption is higher than would otherwise be the case without the stimulative wealth effect of the stk mkt bubble. This behavior will exacerbate the next recession because the economy is geared up for an unsustainable level of consumption based upon debt and bubble mkt gains. Will

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