Did you get these income and savings #s from FoF? Christian
----- Original Message ----- From: "Doug Henwood" <[EMAIL PROTECTED]> To: <[EMAIL PROTECTED]> Sent: Thursday, October 04, 2001 3:19 PM Subject: [PEN-L:18104] Re: RE: Re: RE: fiscal policy > Forstater, Mathew wrote: > > >Doug - so are you expecting that when figures for the current period > >come out, there will not be a reduction in aggregate income, only a > >change in the proportions of spending and saving? > > There may well be a reduction in aggregate income, but over the last > 4-5 months, the personal savings rate went from 0.9% to 4.1% - still > a ways from the long-term average of over 8%. So it could definitely > go higher in anxious times. > > And as for investment, well as every Keynesian knows, confidence is > extremely important to investment, and that's basically the motor of > the system. > > Doug >
