Yep, dollars chasing dollars in an ever rising spiral of a service economy is a great way to go. NOTYou'll have to explain why my service income is bad while your manufacturing (I'm assuming) income is better.
Yes, the government spends too much.
Lets see, the dollar now is down to less than a eighth its value in what it was in the 50's. Just loverly for those that are in debt, not so good for those to whom that debt may be owed buying those goods.
Yes, inflation sucks. I guess you shouldn't hold onto paper dollars then. Try investing them in something that earns a real (that's adjusted for inflation) return.
Anyone one laying aside that penny and loaning it out against future need and financial independance would indeed be a fool such conditions.
That's why you want to earn interest or dividends on your money.
Yes, the savings rate has dropped. We must be poor. Unless you look at our household net worth. Then you'd see that we're not so poor.
You'll have to explain why my service income is bad while your manufacturing (I'm assuming) income is better.
If you look into the inflation statistics, the service sector is the dominant factor in inflation. Dollars chasing dollars in a sevice economy does not portend a good end.
Yes, the government spends too much.
And growing without bound becoming ever more the dominant factor allocation of in national income as opposed to private purpose.
Yes, inflation sucks. I guess you shouldn't hold onto paper dollars then. Try investing them in something that earns a real (that's adjusted for inflation) return.
Like your service sector I presume, to assure even greater inflation in dollars chasing dollars as opposed to production.
That's why you want to earn interest or dividends on your money.
From what? That savings number is what is the percentage of after tax dollars not utilized in consumption. The trend is fewer dollars out of discretionary income going into investment in fact that trend has gone into negative territory. Not good for the future at all.
Yes, the savings rate has dropped. We must be poor.
Net worth today has nothing to do with the issue, we are speaking of where the nation is headed not where we at the current point.
Unless you look at our household net worth. Then you'd see that we're not so poor.
A spendthrift does not stay "not so poor" for very long. As a nation we are spendthrifts. A trend left unattended which will end poorly for the future economic health of this nation.
See you in the winter grasshopper.