“Since the financial crisis, the wealthy have become the nation’s top cash hoarders. The savings rate of the wealthiest 1 percent soared to 37 percent in the second quarter. That’s up from 34 percent in the second quarter of 2012—and more than three times their savings rate in 2007. A separate study from Bank of America recently found that 56 percent of millionaires have a ‘substantial’ amount of cash. Only 16 percent of them plan to invest that cash in the next couple of months. Perhaps the wealthy are wise to keep more money on hand in case those record-breaking markets start to falter.”
http://www.cnbc.com/id/100935856
Related posts:
Gold Runs Out In Lisbon As Price Drop Compounds Money Misery
Air Force guards at top-secret US nuclear missile base were actually a LSD ring
Somali militants claim 'blowback' motivation for Nairobi mall attack
Virginia lawmaker re-elected despite jail term for sex with 17-year-old
23 Petty Crimes That Land People in Prison for Life Without Parole
Navy Radio System Blamed For Crippling Garage Doors
Some traders got Fed 'no taper' decision news early
Baghdad cafe bombing kills 27 ahead of elections
UK Man Facing Life For Hacking FBI Computers Wins Extradition Appeal
Julian Assange on Real Time With Bill Maher: NDAA Kill List
How the U.S. DEA program differs from recent NSA revelations
Reality Check: RNC Pulling Out All Stops To Keep Ron Paul's Name Out Of Nomination
Marc Faber vs. Jim Rogers Conversation - CNBC 10/4/2012
Jeff Berwick on FOX Business: Varney and Co. talking Bitcoin ATM
Man, 28, and stepdaughter, 21, not biologically related, face jail for incest