“Savings… Near Record Lows As Americans Spend More Than They Make…”

“While US personal incomes grew, as expected, at 0.3% MoM, Americans resumed spending fare more than they make (increasing 0.6% MoM in April). For the 28th month in a row, YoY growth in spending has outpaced incomes, sending the savings rate back down to just 2.8, the lowest since the debt-funded holiday spending spree of December 2017, and just shy of record lows…”

https://www.zerohedge.com/news/2018-05-31/savings-rate-tumbles-back-near-record-lows-americans-spend-more-they-make-28th

One of America’s biggest problems is we’re addicted to debt.

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