>Huh? The savings rate is going down because the have/have-not gap is
>getting wider? How does that follow? The question I don't see being
>addressed is who the used-to-be-savers-who-aren't-anymore are? I think
>it's always been the haves who saved, and they save less now because
>they think they have "enough" in savings; the official numbers are far
>lower than the sum of the balances, but nevermind that.
According to the consumer expenditure survey, a couple of decades ago, the bottom two quintiles were net dissavers, and the top three were net savers. Now, the bottom three are net dissavers, and only the top two are net savers.
Doug