{"id":29061,"date":"2011-10-31T17:08:25","date_gmt":"2011-10-31T17:08:25","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/the_american_savings_rate_is_dropping_and_experts_are_puzzled\/"},"modified":"2011-10-31T17:08:25","modified_gmt":"2011-10-31T17:08:25","slug":"the_american_savings_rate_is_dropping_and_experts_are_puzzled","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=29061","title":{"rendered":"The American Savings Rate Is Dropping, and Experts Are Puzzled"},"content":{"rendered":"<p>Scott Hoyt, an economist at Moody\u2019s Analytics who specializes in consumer spending, said there were two competing hypotheses as to why the savings rate had dropped. \u201cOne is that consumers have just decided that they need to spend \u201d\u201d they need to replace the car, the appliance, they want a new wardrobe.\u201d\u009d The other, he said, is that the data, which is often revised months down the road, is simply incorrect.<\/p>\n<p>\u201cThere have been several times where we spent a year or more talking about a negative savings rate\u201d\u009d \u201d\u201d meaning consumers spent more than they took in \u201d\u201d \u201conly to get benchmark revisions to the data,\u201d\u009d Mr. Hoyt said. \u201cThe savings rate\u2019s never been negative.\u201d\u009d<\/p>\n<p><a href=\"http:\/\/www.nytimes.com\/2011\/10\/29\/business\/americans-savings-rate-drops-again-puzzling-experts.html\">Read it all<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Scott Hoyt, an economist at Moody\u2019s Analytics who specializes in consumer spending, said there were two competing hypotheses as to why the savings rate had dropped. \u201cOne is that consumers have just decided that they need to spend \u201d\u201d they<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=29061\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40,50,209,582,149,600,597,593,596],"tags":[],"class_list":["post-29061","post","type-post","status-publish","format-standard","hentry","category-economics-politics","category-international-news-commentary","category-americau-s-a","category-consumerconsumer-spending","category-economy","category-housingreal-estate-market","category-laborlabor-unionslabor-market","category-personal-finance","category-the-credit-freeze-crisis-of-fall-2008the-recession-of-2007"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/29061","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29061"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/29061\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}