> Americans don't save - haven't for 30 years - this isn't anything new. It's also worth noting that the intuitive relationship of "savings is low, ergo times

> Americans don't save - haven't for 30 years - this isn't anything new. It's also worth noting that the intuitive relationship of "savings is low, ergo times are hard" doesn't really fit the data. For example, during the bubble years prior to the '08 mortgage crisis, the savings rate declined significantly. When the crisis hit, the savings rate went up and stayed up afterwards. https://fred.stlouisfed.org/series/PSAVERT https://fred.stlouisfed.org/series/PSAVERT