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45 sats \ 4 replies \ @cryotosensei 29 May \ on: 55% of Americans have three months of emergency savings econ
@SimpleStacker enlightened me recently about just how astronomical the costs of living in the States are
TBF high savings rate could be both a sign of a good economy or a sign of a worse economy. In a good economy people might have more headroom to save. In a bad economy people might be more cautious and save more. We don't know. The only thing we know is there is an undercurrent of a cultural shift.
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Good point. Japanese people save a large proportion of their income because of the perpetual low economic growth situation
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Japanese people save a large proportion of their income because of the perpetual low economic growth situation
Do you know why they don't invest much? I've heard only 1/3 of the Japanese population invests.
I know part of that is the NISA accounts, which are tax-free, but only allow Japanese stocks, which are non-performing.
It's a really peculiar money culture from a Western POV.
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