Nearly Half of Americans Have Zero Savings

According to a new chart from Deutsche Bank’s Torsten Sløk, 47% of Americans save absolutely none of their income. This statistic has not changed much actually in the past few years. And the average saving rate in the United States, which began a precipitous decline in the 1980s, has started declining again after a short bump in 2012: The falling saving rate is a worrying trend. A low stock of savings increases vulnerability to economic shocks. Expansionary economic policy has helped invigorate Read more […]