“CNBC says, ‘According to research from American Express Publishing and Harrison Group, the savings rate of the wealthiest 1% in the second quarter rose to 37%. That’s up from 34% in the second quarter of 2012 — and more than three times their savings rate in 2007.’ In other words, their saving is actually increasing, even given the evidence that the everlasting recession has abated in some ways, which suggests that this class has little confidence that the high stock market and seemingly good news that trickles out are really sustainable. They are preparing for the next crisis in ways they wish they had prepared for the last one.”

http://lfb.org/today/the-triumph-of-scrooge-mcduck/

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