(snip)"Mark Zandi, chief economist at Moody's Economy.com, said one surprising development was how deeply young workers were going into debt to maintain the living standards they wanted.
The U.S. personal savings rate sank below zero last year for the first time since the Depression, meaning that Americans spent more than they earned. But for households under 35, the saving rate has plunged to minus 16 percent, meaning young Americans are spending 16 percent more than they are earning"(snip)



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