Once people dig out of this financial mess, I’ll bet we sock away more money. I’ll bet we easily reach a double digit savings rate again. We now know our income can stop in an instant, whether we’re a restaurant worker, a hairstylist, a pilot, a sales executive, a machinist or an entertainer..
Before the 1998 season, for instance, it briefly appeared that superstar salaries had stabilized at a maximum of around $10 million a year. Then, in short order, free agents Bernie Williams, Mike Piazza and Kevin Brown fine players, but in my opinion not among the game’s 10 best all signed new contracts in the $12 to $15 million range. When a real superstar, like the Seattle Mariners’ Ken Griffey Jr., becomes eligible for free agency (as Griffey will after the 2000 season), no one knows what he will command.
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