Widdekind
Member
- Mar 26, 2012
- 813
- 35
"M2 - M1" represents "savings accounts" in banks. Before NAFTA, US citizens were drawing down their "savings accounts", as measured by "M2 - M1" per capita, inflation adjusted (via CPI):
If Americans have been spending more, on cheaper foreign imports, since NAFTA; then who has been saving more 'real' (inflation-adjusted) Money, into "savings accounts", since c.1993 ?
![fredgraph.png](/proxy.php?image=http%3A%2F%2Fresearch.stlouisfed.org%2Ffredgraph.png%3Fg%3D6O3&hash=594269479c0f4954ff64b4e39ce10acb)