tag:blogger.com,1999:blog-2761684730989137546.post5867273871571958999..comments2024-03-29T02:19:19.866-04:00Comments on Mike Norman Economics: Personal savings collapse. Thanks President Obama!mike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-2761684730989137546.post-72977811230258762022013-07-23T12:07:55.170-04:002013-07-23T12:07:55.170-04:00I love this piece on President Obama by the late A...I love this piece on President Obama by the late Alexander Cockburn: http://www.counterpunch.org/2011/08/05/ready-to-vote-for-mitt-romney/Tylerhttps://www.blogger.com/profile/00251252135305301336noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-63745818465553442262013-07-23T08:12:03.882-04:002013-07-23T08:12:03.882-04:00If private sector personal savings (private sector...If private sector personal savings (private sector surpluses) are the "flip side" the government's "dis-saving" (gov't deficit), then it's pretty clear that the reduction in the government's deficit caused the private sector's surplus to fall.mike normanhttps://www.blogger.com/profile/03296006882513340747noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-52752527747924568762013-07-23T08:06:59.654-04:002013-07-23T08:06:59.654-04:00So looks like the end of the payroll tax holiday m...So looks like the end of the payroll tax holiday may have just prevented people from saving this year as former savings are now taxed away...<br /><br />Savings are a "demand leakage" anyway.... so we still end up with positive (barely) GDP growth...<br /><br />rsp,Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.com