Oct 29th, 2008
Are We Finally Getting it in America?
Two very interesting and encouraging articles I’ve encountered on CNNMoney.com and MarketWatch.com in the last couple of weeks:
Americans finally start saving again–talks about how a few years after having a negative savings rate followed by a just about zero savings rate, in the second quarter of 2008, Americans finally started saving again–yes, an anemic 2.7%, but that’s substantially better than they had been doing;
Cheaper gas fails to draw drivers back to the roads–even with gas prices considerably off their summer highs, Americans who switched to mass transit don’t seem anxious to go back to their cars. Good for them! Let’s not let the reduced price of gas allow us to take our eyes off of the goal of reducing our dependence on fossil fuels.
Maybe we’re finally learning in America. At least I hope so.



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