yes, unlike you.
US private savings rate is below zero.
US household is a wreck.
Your economy runs on foreign loans (2500 bn $).
Large parts of your economy were financed on subprime mortgages that are now imploding, taking the mortgage market for higher ranked loans with it.
broke. unlike us. probably in recession in june.
US savings rate doesn't include capital gains, but subtracts out capital gains taxes paid. It's not a perfect statistic.
US household is a wreck.
How so?
Your economy runs on foreign loans (2500 bn $).
So what? Our GDP grew about 3.1% last year, how'd yours do?
Large parts of your economy were financed on subprime mortgages that are now imploding, taking the mortgage market for higher ranked loans with it.
And still we grew about 3.1% last year. When was the last time your sad excuse for an economy grew at that rate? What's your unemployment rate? What's your government deficit?
So I supposed your 12% unemployment rate is preferred to our situation?
Private savings is NOT zero - that number doesn't include equity in homes or 401k retirement accounts.