Christian Party

Personal Savings?

OR PUBLIC DEBT AND SERVITUDE

	The US is the only industrialized nation with a negative Personal Savings rate http://www.bea.doc.gov/bea/dn/pitbl.htm
	US Personal Savings as a percent of disposable personal income declined from 26% in 1944 to a negative 0.4% in 2000
	The net worth of the average American household is a NEGATIVE $77,000
	Japan has a 33% gross savings rate and a net worth in excess of $1 million per household

If there were a direct link between intelligence (as reflected in TIMSS math scores), and propensity to save, as there should be, then we would expect our savings rate to be 8% (rather than zero, or less), and South Africa's to be a negative 6% rather than a positive 1%.

So we as a nation have a lower personal savings rate than a nation whose IQ is estimated to be lower than 72!

Whew!

Country	Savings	12th Grade TIMSS Score	Savings Adjusted	Amount of Adjustment
	% of GDP		% of GDP	% of GDP

China	52%	647	52%	0%
Singapore	51%	643	51%	0%
Taiwan	44%	610	44%	0%
South Korea	37%	607	41%	4%
Japan	31%	605	40%	9%
Hong Kong	35%	588	37%	2%
Russia	32%	548	32%	0%
Switzerland	27%	547	31%	4%
France	21%	544	30%	9%
Thailand	36%	522	24%	-12%
New Zealand	26%	508	24%	-2%
Britain	15%	506	21%	6%
Canada	21%	499	21%	0%
Germany	23%	487	20%	-3%
Italy	22%	480	19%	-3%
Iran	30%	428	8%	-22%
U.S.	0%	424	8%	8%
South Africa	1%	354	-5%	-6%

personalsaving.gif (46140 bytes)

personalsavings19292001.gif (50570 bytes)

BEA spreadsheets

personalsavings.gif (27889 bytes)

The following is from Asia Week: http://www.cnn.com/ASIANOW/asiaweek/magazine/2000/1020/bottomline.html

Country	Exports 12 months	GDP Growth	Per-cap. GDP (PPP)	Per-cap. GNP (nominal)	Pop (m)	Pop Growth	Inflation (CPI)	Curr. A/C Balance	Reserves excl. gold	Savings % of GDP	People per tel	Life Expectancy	People per Dr	Infant Mortality
Taiwan	-0.3%	6.3%	$15,370	$13,130	21.8	1.0%	$122b.	$9.9b.	$87.8b.	25%	2.1	75	903	4
Saudi Arabia	0.3%	2.4%	$12,265	$7,150	19.6	4.3%	$56.7b.	$0.2b.	$7.0b.	30%	8.5	70	698	29
Switzerland	0.4%	0.2%	$26,315	$37,050	7.1	0.6%	$97.1b.	$19.8b.	$34.2b.	27%	1.1	78	585	6
France	1.0%	2.3%	$21,860	$24,040	58.7	0.6%	$274b.	$32.0b.	$28.9b.	21%	1.5	77	320	6
New Zealand	1.1%	2.4%	$18,250	$17,010	3.7	1.0%	$14.2b.	-$4.2b.	$4.1b.	26%	1.4	77	321	7
Italy	1.4%	1.9%	$20,545	$19,480	57.5	0.2%	$251b.	$40.1b.	$51.1b.	22%	1.9	78	195	7
Canada	1.6%	3.7%	$21,800	$18,900	30.3	1.3%	$210b.	-$2.2b.	$22.3b.	21%	1.3	78	446	6
China	1.8%	8.0%	$3,240	$655	1,232.1	1.2%	$151b.	$7.2b.	$134.0b.	40%	22.4	71	1,034	31
Germany	1.9%	2.9%	$20,864	$25,860	82.6	0.7%	$521b.	-$9.8b.	$77.3b.	23%	1.8	76	333	6
U.S.	2.2%	3.5%	$28,515	$28,480	269.2	1.0%	$639b.	-$158.7b.	$55.6b.	15%	1.3	77	387	8
Malaysia	2.3%	8.4%	$9,835	$4,466	21.7	2.4%	$78.2b.	-$5.2b.	$21.1b.	41%	5.5	72	2,063	11
Singapore	2.3%	7.8%	$24,610	$30,500	3.1	2.0%	$125b.	$14.2b.	$80.4b.	51%	2.0	77	667	4
Japan	2.4%	-0.3%	$23,440	$33,090	126.1	0.3%	$411b.	$78.8b.	$224.4b.	31%	1.5	80	545	4
Fiji	2.8%	4.4%	$5,590	$2,535	0.8	1.5%	$0.7b.	$0.01b.	$0.4b.	13%	8.9	72	2,080	20
Brunei	3.2%	3.0%	$18,900	$20,400	0.3	3.2%	$2.3b.	$0.8b.	$30.0b.	35%	3.8	75	1,133	8
Country	Exports 12 months	GDP Growth	Per-cap. GDP (PPP)	Per-cap. GNP (nominal)	Pop (m)	Pop Growth	Inflation (CPI)	Curr. A/C Balance	Reserves excl. gold	Savings % of GDP	People per tel	Life Expectancy	People per Dr	Infant Mortality
Maldives	3.5%	6.5%	$2,485	$900	0.3	3.0%	$0.1b.	$0.01b.	$0.1b.	11%	15.5	64	5,330	55
Vietnam	3.6%	9.5%	$1,310	$270	76.9	2.3%	$8.0b.	-$2.9b.	$0.6b.	16%	63.4	67	2,298	34
Britain	3.7%	3.5%	$20,170	$20,860	58.6	0.3%	$260b.	$3.6b.	$35.2b.	15%	1.9	76	581	6
Egypt	4.0%	5.1%	$3,965	$1,140	61.1	2.2%	$4.7b.	-$0.2b.	$18.4b.	7%	20.8	64	1,316	40
Macau	4.2%	3.9%	$16,840	$17,475	0.5	3.8%	$2.0b.	$1.9b.	$2.0b.	28%	2.5	73	758	6
South Korea	4.2%	6.3%	$12,390	$10,730	45.9	0.9%	$135b.	-$18.6b.	$30.4b.	37%	2.1	72	855	8
Brazil	4.3%	5.0%	$5,675	$4,755	162.8	1.9%	$51.1b.	-$33.5b.	$62.3b.	21%	10.0	67	847	50
Hong Kong	5.3%	6.4%	$24,085	$24,455	6.5	2.1%	$182b.	$2.1b.	$88.1b.	35%	1.5	79	772	4
P. N. Guinea	5.3%	2.3%	$2,470	$1,249	4.3	2.3%	$2.4b.	$0.2b.	$0.6b.	28%	49.0	57	12,500	53
Philippines	5.7%	5.7%	$3,020	$1,265	71.8	2.3%	$23.5b.	-$3.5b.	$10.3b.	16%	38.6	67	1,016	40
Bangladesh	6.1%	4.7%	$1,450	$283	125.8	2.2%	$3.8b.	-$1.0b.	$1.6b.	8%	380.0	57	12,500	85
Laos	6.2%	6.9%	$1,670	$370	5.0	2.9%	$0.3b.	-$0.3b.	$0.2b.	4%	181.5	52	4,381	91
India	6.6%	6.8%	$1,500	$360	953.7	2.1%	$35.9b.	-$5.1b.	$26.8b.	28%	77.6	61	2,165	75
Indonesia	7.0%	7.8%	$4,140	$1,086	200.0	1.6%	$52.8b.	-$8.9b.	$19.3b.	37%	47.7	63	6,786	50
Sri Lanka	7.2%	3.8%	$3,415	$760	18.5	1.2%	$4.3b.	-$0.7b.	$2.1b.	16%	72.9	72	5,888	14
Country	Exports 12 months	GDP Growth	Per-cap. GDP (PPP)	Per-cap. GNP (nominal)	Pop (m)	Pop Growth	Inflation (CPI)	Curr. A/C Balance	Reserves excl. gold	Savings % of GDP	People per tel	Life Expectancy	People per Dr	Infant Mortality
Thailand	7.2%	6.4%	$8,165	$2,970	61.4	1.5%	$56.9b.	-$11.5b.	$28.4b.	36%	13.5	69	4,361	26
South Africa	8.7%	2.3%	$4,065	$2,928	43.1	2.2%	$30.8b.	-$1.2b.	$4.8b.	19%	6.9	64	1,750	51
Bhutan	9.0%	6.4%	$1,475	$420	0.7	2.3%	$0.1b.	-$0.05b.	$0.2b.	36%	115.2	52	4,255	122
Nepal	9.1%	6.1%	$1,165	$210	22.1	2.3%	$0.4b.	-$0.3b.	$0.6b.	11%	174.0	55	12,612	81
Pakistan	12.5%	3.1%	$2,340	$465	137.4	2.9%	$8.6b.	-$4.2b.	$1.2b.	12%	56.1	62	2,000	88
Russia	12.9%	0.2%	$4,355	$2,965	149.8	0.4%	$88.7b.	$11.1b.	$20.4b.	32%	5.9	68	220	20
Afghanistan	14.0%	6.0%	$720	$150	21.2	1.9%	$0.2b.	-$0.1b.	$0.2b.	10%	390.0	45	7,358	164
Cambodia	14.9%	6.0%	$1,266	$270	10.3	2.5%	$0.6b.	-$0.3b.	$0.3b.	6%	1,212.0	53	9,523	110
Kenya	18.0%	4.6%	$1,377	$293	30.3	3.4%	$1.9b.	-$0.4b.	$0.7b.	21%	62.7	59	9,851	50
Iran	18.1%	4.2%	$5,570	$2,320	62.9	3.4%	$18.3b.	$3.2b.	$5.0b.	30%	13.2	68	3,140	35
Mexico	18.9%	8.8%	$6,780	$3,600	93.9	1.9%	$104b.	-$4.0b.	$25.8b.	19%	7.6	71	578	26
Nigeria	22.2%	2.1%	$1,480	$340	104.4	2.9%	$13.5b.	-$1.9b.	$4.1b.	20%	260.5	53	5,882	84
Myanmar	25.7%	6.0%	$753	$765	48.3	2.1%	$1.0b.	-$0.3b.	$0.2b.	11%	265.5	59	12,500	79
Mongolia	57.5%	2.6%	$2,185	$335	2.5	2.7%	$0.4b.	-$0.06b.	$0.1b.	14%	26.7	64	364	57
Turkey	89.9%	6.7%	$6,020	$2,800	64.0	2.1%	$32.3b.	-$5.0b.	$17.8b.	20%	4.6	67	955	62

These figures are the latest available from national and multilateral sources (telephone data from Int. Telecom. Union). Population growth is the percentage increase in one year and includes births, deaths, emigration and immigration. Though standards may differ, literacy generally means the ability to read and write a short, simple statement about everyday life. Literacy rates refer to the population over fifteen years of age (ten for Singapore). Gross Domestic Product (GDP) is the value of all goods and services produced in one year. Purchasing-Power Parity (PPP) takes into account price differences between countries to provide a more accurate picture of national wealth. GDP growth is adjusted for inflation. Gross National Product (GNP) is GDP plus payments from abroad from investments, labor and minus similar payments to foreigners. Per-capita GNP is converted to U.S. dollars using average exchange rates. Net creditor.

The following page was removed from the Bureau of Economic Analysis web site on June 4, 2001 and does not appear anywhere else on the public government web sites.

This copy was retreived from http://web.archive.org/web/20010604202816/http://www.bea.doc.gov/bea/dn/saverate.htm on October 13, 2002

	Bureau of Economic Analysis
	Personal Saving Rate

Annual personal saving as percentage of disposable personal income

===============================================================================================

 1929-33  :       4.7        4.3        4.0       -0.8       -1.5
 1934-38  :       1.2        4.4        6.4        6.2        2.2
 1939-43  :       4.7        5.9       12.4       24.4       25.8
 1944-48  :      26.3       20.6       10.1        4.7        7.3
 1949-53  :       5.2        7.2        8.5        8.5        8.2
 1954-58  :       7.5        6.9        8.4        8.4        8.5
 1959-63  :       7.6        7.2        8.3        8.3        7.8
 1964-68  :       8.8        8.6        8.3        9.4        8.4
 1969-73  :       7.8        9.4       10.0        8.9       10.5
 1974-78  :      10.7       10.6        9.4        8.7        9.0
 1979-83  :       9.2       10.2       10.8       10.9        8.8
 1984-88  :      10.6        9.2        8.2        7.3        7.8
 1989-93  :       7.5        7.8        8.3        8.7        7.1
 1994-98  :       6.1        5.6        4.8        4.2        4.2
 1999-00  :       2.2       -0.1

Monthly and annual personal saving as a percentage of disposable personal income

===============================================================================================
       JAN    FEB    MAR     APR    MAY    JUN    JUL    AUG    SEP    OCT    NOV    DEC   ANN.
1959:  8.3    7.7    7.5     8.4    7.9    7.9    7.9    6.8    5.9    6.6    7.3    8.3   7.6
1960:  8.3    7.8    6.6     5.5    7.5    7.6    7.4    7.4    7.1    7.0    6.9    7.5   7.2
1961:  8.1    8.2    7.4     7.5    7.7    8.5    9.1    8.8    8.4    8.8    8.8    8.7   8.3
1962:  8.2    8.7    8.6     8.7    8.1    8.7    8.8    8.6    7.6    8.3    7.5    7.3   8.3
1963:  7.9    7.7    7.6     7.6    7.9    7.6    7.2    7.2    8.1    8.7    8.2    7.8   7.8
1964:  7.9    7.5    9.3     9.5    8.7    8.6    8.3    8.3    9.0    8.5    9.8    9.7   8.8
1965:  9.2    7.7    7.7     7.2    8.3    9.1    9.0    8.8    9.8    8.1    8.8    8.9   8.6
1966:  8.4    8.1    7.6     7.3    8.2    8.4    8.0    8.4    8.1    8.8    9.0    8.7   8.3
1967:  9.2    9.6    9.9     8.9    9.1    8.9    9.7    9.7    8.9    9.7    9.6    9.3   9.4
1968:  8.9    9.4    8.8     9.5    9.2    8.8    7.8    7.6    7.6    7.8    7.6    8.1   8.4
1969:  7.2    6.5    7.1     6.6    7.0    7.9    8.7    8.4    8.5    8.3    8.5    8.6   7.8
1970:  8.3    8.1    8.8    10.4    9.3    8.7   10.0   10.0    9.7    9.8   10.2    9.7   9.4
1971: 10.0    9.8   10.1     9.8   10.2   11.3   10.3   10.3    9.6    9.6    9.4    9.5  10.0
1972:  9.1    9.4    8.2     8.2    8.5    7.3    8.3    8.7    8.8    9.4   10.0   10.2   8.9
1973:  9.1    9.4    9.7    10.0   10.2   10.6   10.2   11.0   10.2   11.5   11.5   12.0  10.5
1974: 11.6   11.4   10.7    10.2   10.1   10.3   10.6    9.5   10.3   10.8   11.2   11.3  10.7
1975: 10.4    9.5    9.7    11.3   14.6   11.4    9.7   10.1   10.2   10.7   10.0    9.3  10.6
1976:  9.2    9.9    9.8     9.4   10.1    9.2    9.6    9.6    9.3    8.9    9.3    8.5   9.4
1977:  8.9    7.6    8.8     8.5    8.3    8.7    8.6    9.0    9.2    8.9    9.1    9.2   8.7
1978:  9.9    9.1    9.1     9.0    8.6    8.2    9.2    8.7    9.0    9.2    9.1    9.0   9.0
1979:  9.5    9.3    9.5     9.4    9.2    8.9    9.6    8.7    8.3    9.0    9.1    9.5   9.2
1980:  9.6    9.9   10.0    10.4   10.3   10.0   10.0    9.9   10.3   10.2   10.8   10.8  10.2
1981: 10.5   10.3   10.1     9.8    9.9    9.7   11.3   11.1   11.4   12.1   12.2   11.4  10.8
1982: 11.5   11.0   11.2    11.9   11.4   11.2   11.5   11.4   10.5   10.1    9.7    9.5  10.9
1983:  9.7    9.8    9.2     8.7    8.5    7.8    8.6    8.2    8.8    8.7    9.1    8.8   8.8
1984:  8.7   10.6   10.5    10.6   10.3   10.3   11.1   11.5   11.5   11.0   10.3   10.9  10.6
1985: 10.4    9.2    8.8    10.1   11.1    9.6    9.1    8.3    7.1    9.1    8.7    8.4   9.2
1986:  8.4    9.1    9.7     9.2    8.8    8.9    8.6    8.3    6.4    7.5    7.7    6.0   8.2
1987:  8.8    7.8    7.9     3.7    7.5    7.1    7.0    6.7    7.2    7.8    8.0    8.1   7.3
1988:  7.5    8.0    7.6     8.0    7.6    7.7    7.9    7.7    8.1    7.7    7.7    7.9   7.8
1989:  8.0    8.3    8.7     7.8    7.5    7.7    7.5    6.7    6.8    6.9    7.5    6.9   7.5
1990:  7.3    8.1    7.8     8.1    7.9    7.8    8.0    7.5    7.6    7.5    7.6    8.2   7.8
1991:  8.7    8.4    7.7     8.2    8.0    8.5    8.0    8.2    8.4    8.5    8.2    8.9   8.3
1992:  8.5    8.9    8.8     9.0    8.9    8.8    8.5    8.7    7.9    8.1    8.0   10.2   8.7
1993:  7.1    6.9    7.2     7.7    7.8    7.2    6.7    6.9    6.5    6.3    6.3    8.7   7.1
1994:  5.5    5.3    5.6     5.5    6.8    6.3    6.4    6.0    6.3    6.6    6.3    6.6   6.1
1995:  6.4    6.7    6.3     5.5    5.6    5.1    5.6    4.8    5.3    5.6    5.2    4.8   5.6
1996:  5.1    5.0    5.1     3.7    4.6    5.2    5.0    4.9    5.1    4.6    4.7    4.6   4.8
1997:  4.1    4.2    4.4     4.4    4.8    4.5    3.7    4.0    4.1    4.2    4.3    4.2   4.2
1998:  4.6    4.6    4.6     4.7    4.2    4.0    4.3    4.2    3.9    3.8    4.3    3.3   4.2
1999:  3.5    3.2    2.7     2.5    2.5    2.5    2.1    2.1    1.3    2.0    1.8    0.7   2.2
2000:  0.6   -0.1    0.1     0.3    0.3    0.3   -0.2   -0.4    0.0   -0.6   -0.8   -0.7  -0.1
2001: -1.3   -0.8   -0.6    -0.7

 
note: monthly personal saving as percentage of disposable personal income is
 available beginning with 1959

Modified Tuesday, November 02, 2010

Personal Savings?

OR PUBLIC DEBT AND SERVITUDE

Bureau of Economic Analysis

Personal Saving Rate