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WHY have we gone from a savings rate of 9% to 0% in the past 20 years.

Because 20-25 years ago people were holding 1- to 5-year CDs that paid interest rates above 10%, while today some banks are paying less than 1% and even quality 20-year corporate bonds are mostly in the 6-to-7-percent range.

(That's assuming that the speculation is correct, that investments are not included in savings. I wouldn't bet very strongly on that assumption, without verification.)
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