Quote:
Originally Posted by tony404
spending is what makes an economy work.
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I do not fully agree with that.
Saving, investing, and actually producing something is what makes an economy work. Constantly buying stuff on credit that is mostly imported does very damn little for our economy outside of keeping some teenagers in blue shirts employed at minimum wage.
What is the averages savings rate of a US citizen now?
What is the average debt of a US citizen now?
Now take a look at citizens of a country that got hammered financially and recovered after a decade or so, like Japan.