Re The good economic news is actually bad. Here's why.

["Dave Farber" <dave () farber net>]

---------- Forwarded message ---------
From: Joe Crawford <joe () artlung com>
Date: Sat, Feb 3, 2018 at 11:19 AM
Subject: Re: [IP] The good economic news is actually bad. Here's why.
To: <dave () farber net>


It’s more difficult  to save income when you have no extra income to save.
Wages have not kept up with inflation. Like, for decades?

Thriftiness is a laudable value presuming you’re not forced into it by
poverty. Many people are just getting by. Many are merely homeless. You’d
think George Will could add that context to this finger-wagging essay. I’m
pretty sure he’s written about how such privation and desperation among
many led some to attach their economic hopes to someone who said he’d “make
America great again.”

Joe


On Sat, Feb 3, 2018 at 3:46 AM Dave Farber <farber () gmail com> wrote:

> Begin forwarded message:
*From:* Dewayne Hendricks <dewayne () warpspeed com>
> *Date:* February 3, 2018 at 6:33:08 AM EST
> *To:* Multiple recipients of Dewayne-Net <dewayne-net () warpspeed com>
> *Subject:* *[Dewayne-Net] The good economic news is actually bad. Here's
> why.*
> *Reply-To:* dewayne-net () warpspeed com
>
> The good economic news is actually bad. Here’s why.
> By George F. Will
> Feb 2 2018
> <
> https://www.washingtonpost.com/opinions/the-good-economic-news-is-actually-bad-heres-why/2018/02/02/9af38e38-0782-11e8-8777-2a059f168dd2_story.html
> >
>
> ...
>
>
>
> Consider this recent Wall Street Journal front-page headline: “Americans
> Save Less As Good Times Roll.” The article began: “Soaring stock prices and
> improving job prospects” — Good news? Good grief — “have set Americans off
> on a spending splurge that is cutting into how much they sock away for
> retirement
>
> In December, America’s household savings rate was the lowest (2.4 percent
> of disposable income) since the negative savings rates in 2005 and 2006,
> before the housing bubble burst. Many Americans, forgetting the most
> intractable fact — that nothing lasts — turned the equity in their homes
> into cash to fund immediate consumption. Today, 104 months after the
> recovery from the Great Recession began in June 2009 (when the savings rate
> was 6.6 percent), 2.5 million homes are still worth less than is owed on
> their mortgages.
>
> As of 2013, 45 percent of working-age households had no retirement
> savings. ...
>
>
> --
Joe Crawford
~ joe () artlung com ~ +1.805-857-3951 ~ http://artlung.com/
~ twitter: @artlung ~ http://joecrawford.com/



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