Feb 5, 2009

Associated Press on the trouble with saving

Americans are hunkering down and saving more. For a recession-battered economy, it couldn't be happening at a worse time.

Economists call it the "paradox of thrift." What's good for individuals -- spending less, saving more -- is bad for the economy when everyone does it.

~ Associated Press, "Rise in savings hurting economy," February 2, 2009, by Martin Crutsinger

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