I do not worry much about particular levels of the current account, the dollar, or the measured savings rate per se. I used to say "deficits do not much matter, and the level at which they would matter will never be reached in the United States." I do not say this any more, but hey I’ve gotten used to that too.
I pin great hopes on the growth rate. Furthermore I tend to think that the best forecast of next period’s growth rate is often this period’s growth rate. That is why I am distressed by recent news of a 1.1 percent quarterly growth rate. I do not see any way to put a positive or neutral spin on this. Beware.