One of the results of the current economic conditions is an increase in the American savings rate. In May, the national savings rate hit 6.9 percent, the highest it has been since December of 1993, according to the Bureau of Economic Analysis. That is a significant development. The rate was less than 1 percent between 2004 and 2007, and was actually negative in the third quarter of 2005. The savings rate is increasing and at least one expert is predicting it will rise to as high as 10 percent. That would put it at about . . .
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