WASHINGTON A group of economic reports yesterday showed the economy was buffeted The Commerce Department reported that consumer spending rose by 1 percent However, incomes rose by just 0.3 percent, not enough to cover the increased With the mania for refinacing, the amount Americans from the Boston Globe<\/a><\/p>\n<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":" Another new low for the debt economy. There is a financial hurricane on the radar, and this country is ill prepared to weather the storm… WASHINGTON — Americans’ savings rate fell to a record low in July while manufacturing showed … Continue reading ![](\"http:\/\/cyber.law.harvard.edu\/blogs\/static\/dowbrigade\/deste.jpg\")
Another new low for the debt economy.
\n There is a financial hurricane on the radar, and this country is ill
\n prepared
\n to weather the storm…<\/em><\/p>\n
\n — Americans’ savings rate fell to a record low in July while manufacturing
\n showed
\n signs of
\n slowing
\n in August, worrisome economic news amid uncertainty over how much of
\n Hurricane Katrina will hit the economy.<\/p>\n
\n by high oil prices even before Katrina shut down production along the
\n Gulf
\n of Mexico earlier this week and sent the price of gasoline and other
\n products soaring.<\/p>\n
\n in July, matching a strong June gain, as Americans streamed into auto
\n showrooms to take advantage of sales enticements.<\/p>\n
\n spending. As a result, the savings rate fell into negative territory
\n at minus 0.6 percent, the lowest level on record.<\/p>\n
\n have saved in their houses is declining, too. Where do you think the
\n extra bucks to fillup the tank are going to come from?<\/em><\/p>\n