I heard a very interesting story this Thursday on NPR’s Morning Edition. Linda Wertheimer chatted with The Wall Street Journal‘s David Wessell about the recent rebound in the savings rate from nearly zero to 5%.
I’m hopeful but skeptical that America’s relatively sudden interest in saving will keep, but I’m mostly curious to know what you think. Once conditions improve economically, do you think Americans will go back to their spendthrift ways, or do you think that the current crisis has altered or will radically alter American consumption and that we’re entering an “Age of Frugality?”
In short, are we seeing a “Thrift Shift?”
John