We’re saving too much?

This is a rant.

A little while ago over at MSN Money I was reading an article by Jon Markman entitled “Savers could doom the economy.”  Without going into detail – feel free to read his article – he talks about “fretful savers” that will “crush corporate earnings.”

The saving  rate is only up to a whopping 5% – that includes contributions to 401k’s and college! Yes we are at a 14 year high (for the last few months). But the nation’s annual savings rate has been going downhill since 1981 (when it was at 5.3%). And in 2005, the savings rate was negative for the year!

So now that maybe, just maybe, we are being fiscally responsible, at least for a few months, and now we are dooming the economy? DON”T LISTEN TO HIM!

Maybe if we had bought houses and cars and other things like we used to – pay cash or at least put 20% down on the house – we might not even be in this mess. And how did we used to  do that? We saved!

Keep saving people. We won’t be able to depend upon Asian monies for investment forever.

Fee l free to rant with me about any other articles you have read that made you mad!