[groanup]

That savings rate does not include 401k plans, other employer sponsored plans. If you factored that into the national savings rate, you’d see a different picture altogether.

Nor does it include premium products such as life insurance cash values and annuities does it? How about people who make regular payments into mutual funds?

[Professional]

I didn’t know about insurance, but that’s pretty interesting. Are you sure about mutual funds? I also don’t think they include investment into r/e, the equity that is created within that holding.

Frankly, who wants a developed economy, only putting money into bank products? That is hardly good for economic growth is it?