| Ail said: Err are we living in the same country ? I don't think most americans know what the word savings means... This is the country of mortgage refinance and credits cards and the whole domestic economy is based on consumers buying stuff through credit....... How many adults on this site have 0 debts ? ( I do but I wasn't born in the US even if I live there so I was raised with different values).
As for economic growth you have to be realistic, baring a new technologic breakthrough like we had with computers in the 80s-90s the western world can not experience sustained growth of more than 4-5% in the next decade.... Growth is going at best to reach 4% and most likely stay closer to 3%... |
No, we're not. I'm from the UK, living in Hong Kong.
I know Americans don't save, that's true for all Westerners. The reason being that the incentives just aren't there because of all the reasons I suggest. Only a moron would save their money, when infation is far higher than any interest they would earn. As it stands, it is more profitable to hold a mortgage with 3-4% interest, then it is to save. That is insane, and unsustainable.
