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View Diary: Morning Feature: Animal Spirits, Part III - Saving, Stock Prices, Real Estate, Minority Poverty (79 comments)

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  •  That happened in the 1980s and 1990s, yes. (7+ / 0-)

    When economic risk seems manageable, saving money helps us individually (be ready for the unexpected, have a modest retirement) and collectively.  We need capital to create and maintain productivity.  When we sense that's what our savings are doing - while they're accruing interest for our later needs - we have both personal and social reasons to save.

    But if we sense our savings are being dissipated in speculative schemes that only benefit the rich, and we'll be wiped out the first time some ordinary bad event happens ... we lose both motives to save.

    Good morning! ::hugggggggggggs::

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