Americans are saving much less. What a surprise…not! You know that old saying by Santayana “Those who cannot remember the past are doomed to repeat it”. It really rings true in this situation. It seemed America was on the right tract for a quick minute.
The great recession 2007-2012 was an ugly, ugly one for a lot of people, and the effects were felt all over the world. The part of it that really resonated with me was the Financial Crisis and Mortgage Crisis where the “too big to fail” banks were rescued by the Federal Government. Here we go again, as it seems we just can’t learn from the past.