Credit and Consumption: Savings that is just so Old Economy

By way of preempting where the conversation on income distribution is likely to end up–on the topic of consumption–I thought I would throw up this graph. Check out that savings rate!

Consumption and Credit

Anyone notice the date of the peak?  And check out them credit lines.  Notice all figures are per labour income dollars.  Thanks to the Lonely Economists for the graph.

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