• by Wayne Friedman , Staff Writer, March 23, 2009

One of the telltale signs of the economic collapse, was some basic financial stuff â€" stagnant personal income and dropping savings rates.

“We stopping saving,” says Paul Kedrosky, editor of Infectious Greed. He notes savings rate have turning down since 1959. Not only that but personal income hasn't growing for a long time. Kedrosky says it's no surprise the economy hit the wall.

In the 1930s depression, it was all about corporate debt collapse. This time everything is tied to household debt problems. Now we destined become cocoon-ers, perhaps spend less, and become savers.

“We are money hoarders now,” he says.