Capitalist Piggie Bank

One of the many assumptions about capitalism and, by default, most Americans is that saving money is neither promoted or done. Spend, spend, spend and ask questions later, right? Well, here's an article that debunks the myth that Americans don't save:

Link: Think Again

Summary:
Most savings figures show that, on average, Americans have a savings rate of negative 1% a year. BUT, that does not include: retirement plans, pension plans, 401(k) plans, stocks, mutual funds and a myriad of other investments. And, considering that 7 out of 10 Americans are invested in the stock market the negative 1% savings rate is an utter misrepresentation of the facts.

So, considering all the ways Americans save, we put away an average of $700 a month, which isn't terrific, we can do better but its more than most industrialized nations and 10 times more than China.

Myth busted, Americans do save; take THAT pessimism!