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Home > America's saving rate went up to one whole percent in 1Q2007!

America's saving rate went up to one whole percent in 1Q2007!

September 16th, 2007 at 12:53 am

America's

Text is personal saving rate went up to one whole percent and Link is www.bea.gov/briefrm/saving.htm
personal saving rate went up to one whole percent in the first quarter of 2007! I wonder how much of that is due to ING's Orange Accounts and the 7.5% - 8% offered by some credit unions on the first $500 deposited in checking and savings accounts. So when you read mainstream media's gloomy bits about consumer expenditures being down, consider that some people are choosing to pay in cash for a planned purchase, and reflect on the positive saving rate. While Bank of America is amending its credit card agreements to provide for a 32.99% "default pricing" APR, can you really blame people for wanting to save? It's not like Bank of America is actively engaging in competitive practices to encourage credit card use with a rate like 32.99% APR...

Posted in | 4 Comments »

4 Responses to “America's saving rate went up to one whole percent in 1Q2007!”

  1. Aleta Says:
    September 16th, 2007 at 12:56 am 1189904188
    1189904188

    7 1/2 to 8% from credit unions on the first $500. Where are those rates?

  2. paulettegoddard Says:
    September 16th, 2007 at 01:07 am 1189904825
    1189904825

    Text is BECU and Link is www.becu.org
    BECU and
    Text is Watermark and Link is www.watermarkcu.org
    Watermark.

  3. disneysteve Says:
    September 16th, 2007 at 01:35 am 1189906502
    1189906502

    I think that's great news, actually. 1% positive is a lot better than nothing, or a negative rate. It would be nice to see that figure slowly climbing.

  4. baselle Says:
    September 16th, 2007 at 03:40 am 1189914002
    1189914002

    Its great news, but then it went down to .5% in the graph you linked to. Still, its positive. Maybe its the silver lining in the credit crisis.

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