On Feb 7, 2011, at 12:42 PM, Ted Winslow wrote:
> Aggregate income in a period is identically equal to aggregate expenditure in the same period. To have some part of aggregate "saving" in a period accumulate as cash is to have aggregate income exceed aggregate expenditure by the amount of the accumulated cash. How is this possible?
It explains the rise in consumption (mass and elite). And negative net exports.
Doug