Hurricane repairs and insurance payments lift both personal spending and income; prices in check. This sounds like temporary relief to me. In fact, it’s not all good news. The saving rate is still negative at -0.4 percent. So while the move was in a good direction, we’re still spending more than we’re saving.
I’ve tried that (back in my days of reckless abandonment — which were neither reckless nor abandoned). It doesn’t work.
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The feds are increasing rates, according to and AM station news I listen to in my area, this is a definate they said. That should slow the housing maket even further. On the good news side, although the last statement may be good news for some, incomes and jobs have been reported as increased. Unfortunately I fall into the -0.4 percent savings rate – it’s tuff. Especially with the gas prices what they are and winter coming (yes, the oil burner blues but there’ll be no switching to gas).
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