American income and spending growth, saving rate
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Happened to see this from CBS evening news today. The story is titled “Credit Crunch Takes New Face”, and it talks about the credit card crunch for average consumer.
“The average American has nine credit cards and owes more than $16,000, not including mortgages…This decade, real wages went up 4 percent while credit card debt jumped more than 75 percent.”
I also saw this from NBR at PBS, regarding the savings rate:
France and Germany: around 12-13%
Happened to see the regular unlead gas is $2.29 per gallon at Shell station today. Time to get SUV again?