By: Li Bin Chen
Get ready to blow the cobwebs out of your wallet. Sadly, someday this recession is going to end.
After 17 months of steep decline, both the president's Council of Economic Advisors and the Federal Reserve now believe the economy will begin to recover sometime in 2009.
After 17 months of steep decline, both the president's Council of Economic Advisors and the Federal Reserve now believe the economy will begin to recover sometime in 2009.
Great news, to be sure. But it's also a warning to consumers: The deals you're seeing on everything from houses and cars to televisions and furniture won't last forever. Luckily, for a host of goods and services, the sale of the century (literally) is still on.
The reason is simple: no buyers. Personal savings in 2008 were nearly six times greater than in 2005, amounting to $191 billion or 1.8% of the nation's disposable income. In 2009, annualized savings for January and February exceeded $450 billion, or more than 4% of disposable income.
For those feeling bold enough to bargain shop, opp
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