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I'm sure everyone likes to consume rather than save. The fact is that Indians and Chinese consume an order of magnitude less than Americans, and still manage to

I'm sure everyone likes to consume rather than save. The fact is that Indians and Chinese consume an order of magnitude less than Americans, and still manage to save. Americans could do the same if they were willing. Can you state clearly what your point actually is?

ThomPete 11y ago
You are comparing a culture thats been in this game for almost a century with two countries who only experienced this kind of growth for a couple of decades. I think it's pretty obvious what my point is and I think you know it to. But in case you don't. The Indians and the Chinese will change this behavior over time. In fact I wouldn't even be surprised if you could already see this change in those who benefitted most from Chinese and Indian growth vs. those who aren't already benefitting. They are after all humans.
- yummyfajitas 11y ago
  They might change their behavior. If they do, their retirement woes will be their own fault too. However, I see no evidence that wealthy nations having a low savings rate is a universal behavior. Singapore (as wealthy as the US) has a 50% savings rate, while Hong Kong, Japan and Korea have a 20-30% savings rate. http://data.worldbank.org/indicator/NY.GNS.ICTR.ZS http://data.worldbank.org/indicator/NY.GNS.ICTR.ZS
  - ThomPete 11y ago
    Who are they? Thats the whole point. Previous generations creates the environment that the next ones grow up in. The US isn't wealthy in any easily calculatable sense. They have been borrowing from it's grandchildren for a long time now. Most other western countries are doing the same. Some of those countries though have forced retirement savings but otherwise it's all borrowed money. Blaming any specific generation for the framework the previous one set up for them is just flat out ignoring what it means to be a human being living in a society.

ThomPete 11y ago

You are comparing a culture thats been in this game for almost a century with two countries who only experienced this kind of growth for a couple of decades. I think it's pretty obvious what my point is and I think you know it to. But in case you don't. The Indians and the Chinese will change this behavior over time. In fact I wouldn't even be surprised if you could already see this change in those who benefitted most from Chinese and Indian growth vs. those who aren't already benefitting. They are after all humans.

yummyfajitas 11y ago
They might change their behavior. If they do, their retirement woes will be their own fault too. However, I see no evidence that wealthy nations having a low savings rate is a universal behavior. Singapore (as wealthy as the US) has a 50% savings rate, while Hong Kong, Japan and Korea have a 20-30% savings rate. http://data.worldbank.org/indicator/NY.GNS.ICTR.ZS http://data.worldbank.org/indicator/NY.GNS.ICTR.ZS
- ThomPete 11y ago
  Who are they? Thats the whole point. Previous generations creates the environment that the next ones grow up in. The US isn't wealthy in any easily calculatable sense. They have been borrowing from it's grandchildren for a long time now. Most other western countries are doing the same. Some of those countries though have forced retirement savings but otherwise it's all borrowed money. Blaming any specific generation for the framework the previous one set up for them is just flat out ignoring what it means to be a human being living in a society.