Mises Daily
Author:
Frank Shostak
Online Publish Date:
The August 8, 2005, headline in the Wall Street Journal has declared “If Savings Rate Rises, Retailers May Take a Hit”: Last Tuesday the Commerce Department reported that the personal savings rate—the amount of household’s income left over after spending as a percentage of total income—fell to zero in June. Other than the negative 0.2% it hit the