Not healthy money-wise

One suspects that these figures, below (from a piece in The New York Times today) of the financial situation of Americans isn't all that much different in many Western countries. It isn't any wonder that people resent the ever-increasing divide between the haves and have-nots.

"Americans are generally lackluster savers. Forty-one percent of households lack liquid savings to cover an unexpected $2,000 expense, according to research from the Pew Charitable Trusts, which also found that a lack of saving is a top financial worry, even among families with higher incomes.

One in three American families reports having no savings, including one in 10 of those with annual incomes greater than $100,000. Federal data show the overall personal savings rate in the United States is about 5 percent, and an analysis by Moody’s Analytics finds that Americans under 35 actually have a negative savings rate, meaning they are spending more than they earn."

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Mahler's Prodigal Son

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