Saving Rates In Greece Are Negative 17 Percent

Thanks To Central Banks, Saving Rates Are Declining Worldwide by Ryan McMaken, Mises Institute

The media has again begun focusing on the fact that most Americans surveyed have less than $1,000 in their savings accounts. On Sunday, USAToday reported on "America's spend-first mentality" and last week, CNBC suggested that 34%  of Americans "have no savings at all."

The statistic that most Americans have less than $1,000 in sort of liquid emergency fund stems from a 2015 study by GoBankingRates which concluded that 34% of Americans have zero dollars in a savings account while 35% have between one dollar and $1,000 dollars.

For those who have little in a savings account, this doesn't mean their net worth is necessarily...