As the economy deepens more and more people are electing to save instead of spend.  The spend free economy of the past couple years is now replaced by a country of savers.  Here is a chart from St. Louis Fed that illustrate personal saving rate and it has increased dramatically over the last couple months.

There is an article in this week’s economist that talks about the current economic environment.  In order for US to recover from the current recession, the country will have to start shifting from a consumer/import economy to an export economy.  With everyone becoming more frugal and save a larger portion of their income we are definitely moving toward the right step.