Personal saving as a percentage of disposable personal income was 5.0 percent in January, compared with 3.9 percent in December.
My Comments: The sharply rising U.S. savings rate makes me more cautious than I was earlier. This is great news for the U.S. dollar as the current account deficit will continue to contract, but a very bad development for the global economy. Government dis-saving is the only way out of this quagmire.
