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Rising Wealth (Manufactured By QEs) Does Not Generate Spending Surge

Tuesday, June 25, 2013 - 7:46 AM
From Boston.com/AP:

Rising US wealth doesn't generate spending surge - Personal finance - Boston.com

As expected: "The biggest gains in wealth are going to wealthy households that tend to save a big chunk of their incomes and spend a smaller proportion on basics such as food and clothing. ‘‘Those guys don’t spend much,’’ says economist Edward Wolff of New York University."
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