Savings Up: Imports Hardest Hit

Kurt Brouwer May 18th, 2009

businessinsider-clusterchart051809-imports-savingsrate1.gif

Source: Business Insider / Clusterstock

This chart from Business Insider illustrates a fascinating inverse relationship–as savings rates fell throughout the 1990s, the level of imports steadily rose. All that ended recently. The red line shows the changes in the savings rate and the blue line is the number of containers coming into the Port of Los Angeles [emphasis added]:

Today’s chart compares the savings rate to container volume at the Port of Los Angeles, where many imports from China arrive. Though volatile, there’s a nice symmetry. As the savings rate declined throughout the late 90s and early part of this decade, port volumes soared. Both of those trends have reversed violently in just the last few quarters.

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One Response to “Savings Up: Imports Hardest Hit”

  1. December Bakeron 20 May 2009 at 2:15 pm

    I’m one of the ones who pays the balance in full each month, and you bet your sweet bippy that Im good and mad.

    How in &&^%! do we picket credit card companies?

    At least its possible to vote politicians out of office when they inflict too much abuse on us.

    The kicker is, I didnt get my first (and only) credit card until ten years ago. And, I had a very hard time getting that card because (drumroll), I had zero history of debt. I had paid off my student loans and had been a cash and carry person my whole life.

    I proved I had assets but no go. They didnt want to give me a card. I had to get a secured card and use it for a year.

    As soon as that year was over, and I had a history–bang. I was innundated by credit card offers. That was the era when anyone with a pulse was offered enough credit cards to shingle the roof.

    This stinks to high heaven.

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