Is the sky falling?Published 9:15am Wednesday, September 25, 2013
To the editor:
Is the sky falling? It could be, especially here in the good old USA since our country is under attack by the Obama regime’s divisive objectives. With a White House having bent to dismantle our basic principles, which made us a world leader, and replacing them with virtually no concrete plan on a constructive “anything“. “Anything” being the budget, spending, foreign policy, jobs, an ill-conceived control health plan, security, taxes and more.
Of course there is good news for investors as the stock market has been pumped up by a FED program to print money to counter all the negative things happening because of Obama‘s lack of direction and leadership.
Unfortunately this has led to consumers regressing to their ways of just a few years after the financial crisis exposed their irresponsible savings habits. The savings rate was just 3.8 percent in August 2008. From there, it has increased, going as high as 8.7 percent in December 2012. Since December of last year, savings rates have declined to near pre-recession rates, below 5 percent, and as of July, it stood at 4.4 percent.