Over the years society has been engineered where individuals replaced money with debt. Stark difference to other countries like China. Chinese citizens have 38% savings rate, this is amazing. US citizen saving rate is negative. Still most Americans feel deep down that they have a right to borrow money and go around the world to tell other people how to live. To install into them American values "by hook or by crook" to quote Putin. (president of debt free country)
Popular business show called The Lang & O'Leary Exchange talked about it last night. If you got international Satellite TV you probably know about it.
Big fucking deal. Chinese per capita GDP:$2634. 38% of that will get you and the kids two days at the ballpark with franks and soda pop. http://www.tradingeconomics.com/china/gdp-per-capita
As of 2011, the average chinese citizen made $708 per month. So that means they are saving about $269 per month. Their retirement plan is probably pretty much to live where they live now and never see the world.
The Chinese are similar to the Japanese. They work a lot and have nothing to spend their money on. :eek:
Forgive me for being blunt but are you stupid or something? They save 38% regardless of how much that is, while Americans save negative percentage. Is that not clear? Wasn't I clear? I have difficulty believing there are real investors/traders on this site. If there are any they are keeping quiet.
You are being just funny right? If you travel to outside of US into far east you will see a culture of saving, the belief that spending someone else's money (credit) is a bad thing. Are there only Americans on this site?
what is so special about seeing the world? there is quote from the Tao about being at peace with yourself and never traveling to the next village.