Safehaven | The Passing of Billy Mays Will Boost My Personal Saving Rate

July 07, 2009

The Passing of Billy Mays Will Boost My Personal Saving Rate
by Paul Kasriel

This is meant as no disrespect to the family of Billy Mays. Rather, it is intended as utmost admiration of the man. My house and garage are full of the products - almost two of each product - that Billy Mays advertised on basic cable television. He was one of the best salespersons I have ever seen. I would purchase almost anything Billy Mays was selling. With his passing, my personal saving rate is bound to rise and I suspect the saving rate of many other Americans' will also for the same reason. Although this will hurt retail sales, it will help business capital spending as we purchase more corporate bonds rather than Mighty Mendit tape. (By the way, I suspect that Mighty Mendit would be great to repair tears in a spinnaker. And if you order now, you might get two kits for the price of one. Just pay the extra shipping and handling fee.) Billy, may you rest in peace.

Paul L. Kasriel, Director of Economic Research
The Northern Trust Company
Economic Research Department
Positive Economic Commentary
"The economics of what is, rather than what you might like it to be."
50 South LaSalle Street, Chicago, Illinois 60675

The information herein is based on sources which The Northern Trust Company believes to be reliable, but we cannot warrant its accuracy or completeness. Such information is subject to change and is not intended to influence your investment decisions.