81.   Luo Xu, researcher at China Guotai Securities, predicted a cut would start with the savings deposits rate.

82.   Meanwhile, the savings rate fell.

83.   Minuscule changes in either reported income or spending can produce huge changes in the savings rate.

84.   More important, unlike the United States, where people spend a lot and save relatively little, Japan has a very high household savings rate.

85.   Most economists remain cautiously optimistic that developing economies with high savings rates, a strong work ethic and business-friendly governments will weather this crisis.

86.   Most of our attention should be focused on paying down the national debt, because we have far too low a personal savings rate.

87.   Moreover, analysts say, Korean consumers, far from being spendthrifts, have a high savings rate.

88.   Negative savings rates first occurred in September when the market was plunging.

89.   Now, though, as the economy swoons, jobs are disappearing, income growth is slowing and the personal savings rate is shrinking.

90.   Of course, high savings rates are nothing new for Japan.