SAVINGS RATE FOLLOW UP

Incomes rose a smaller 0.3 percent in July, down from a 0.5 percent gain in June. The combination of a surge in spending and slower income growth sent the personal savings falling to a minus 0.6 percent, the lowest level since the government began keeping these records in 1959.

** I cannot stress the indication for the above stat. YOU get record debt with record extreme credit expansion, you get gross economic distortions and imbalances when savings isn't the fuel for spending, and you get a record extreme of a MINUS savings rate.

Is THIS what you should see at the beginning of a new super bull? Consumers in their worst possible finance?

D