Negative personal savings rate took holidays

Well it was quite of a shock when i came back home this summer.

As you know one of the main economic issue for consumption is the personal saving rate witch is negative, in fact was negative. The Fed now is giving some brand new numbers for 2006/2007 and the balance sheet of the average American appears to be green !

Dunno if Harry Potter is around the corner but as far is now we are in the middle of a real estate market crash and foreclosures are up 92% since july06 so it should be hard to see any significant improvement of the personal finance, here is the charts before and after the "revision".

Before












After