If you put a ten dollar bill under the rug instead of spending it, that is capital formation. It represents ten dollars' worth of something that might have been immediately consumed, but wasn't.

By 1910 he had become a financial columnist for the New York Evening Post. In 1922 he became the principal writer on economic issues for the Saturday Evening Post a position he held until 1942. 1916 at 38 he became the executive editor of the New York Tribune.

Garet Garrett (February 19 1878 – November 6 1954) born Edward Peter Garrett was an American journalist and author who is noted for his opposition to the New Deal and U. involvement in the Second World War.