Comments on: With Chinese Saving Rate at 50% and American at 0%, US Government Tried to ... Convince China to Spend More and Save Less! http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/ The Neat Side of the Web Tue, 10 Nov 2009 06:14:40 -0600 http://wordpress.org/?v=2.8.4 hourly 1 By: supagold http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/comment-page-1/#comment-428300 supagold Fri, 01 Feb 2008 20:39:52 +0000 http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/#comment-428300 Our "savings" rate is so low, because savings accounts are just about the stupidest place to put your money. Which is what this statistic is measuring: how many people have money in savings accounts. You're essentially getting 1-2% return above inflation (at best) to let a bank go and invest your money and pocket the difference. I have zero savings, but lots of money invested in my 401k, mutual funds, and money market accounts. I feel like I've got a pretty good handle on the future, but according to you I'm doing terrible. Our "savings" rate is so low, because savings accounts are just about the stupidest place to put your money. Which is what this statistic is measuring: how many people have money in savings accounts. You're essentially getting 1-2% return above inflation (at best) to let a bank go and invest your money and pocket the difference. I have zero savings, but lots of money invested in my 401k, mutual funds, and money market accounts. I feel like I've got a pretty good handle on the future, but according to you I'm doing terrible.

]]> By: Tempscire http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/comment-page-1/#comment-426748 Tempscire Fri, 01 Feb 2008 00:03:27 +0000 http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/#comment-426748 Jerse: <i>"According to the BEA, the national annual savings rate fell in 2005 to its lowest point since the Great Depression: negative 0.4 percent. Since then, it has continued to fall, registering at negative 1.6 percent in May 2006 and negative 1.5 percent in June. Compare those numbers with 1985 when the national savings rate hit a record 11.1 percent and it's clear why economists are raising the warning flag."</i> from <a href="http://www.bankrate.com/brm/news/pf/YIRguide06-07/nov06_checking_saving_negative_a1.asp" rel="nofollow">BankRate</a> Google "American savings rate" and you'll see many other sources stating it's below 0%. Jerse:

"According to the BEA, the national annual savings rate fell in 2005 to its lowest point since the Great Depression: negative 0.4 percent. Since then, it has continued to fall, registering at negative 1.6 percent in May 2006 and negative 1.5 percent in June. Compare those numbers with 1985 when the national savings rate hit a record 11.1 percent and it's clear why economists are raising the warning flag." from BankRate

Google "American savings rate" and you'll see many other sources stating it's below 0%.

]]> By: artbot http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/comment-page-1/#comment-426635 artbot Thu, 31 Jan 2008 23:07:06 +0000 http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/#comment-426635 #12 - this is exactly what we did. I haven't seen any commercial tv in two years and don't miss it a bit. When I'm somewhere there's a tv, it's almost assaultive. While saving that $80/month (for basic cable!), we get the added bonus that our 27 month old speaks in complete & detailed sentences, has well developed social skills, is amazingly polite, doesn't know what a commercial is, doesn't know what a "product tie-in" is, and never begs for crap he saw on tv. We are ecstatic that his first choice for fun is to play outside or read a book or play with his blocks. #12 - this is exactly what we did. I haven't seen any commercial tv in two years and don't miss it a bit. When I'm somewhere there's a tv, it's almost assaultive.

While saving that $80/month (for basic cable!), we get the added bonus that our 27 month old speaks in complete & detailed sentences, has well developed social skills, is amazingly polite, doesn't know what a commercial is, doesn't know what a "product tie-in" is, and never begs for crap he saw on tv. We are ecstatic that his first choice for fun is to play outside or read a book or play with his blocks.

]]> By: HappyWithoutCable http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/comment-page-1/#comment-426535 HappyWithoutCable Thu, 31 Jan 2008 22:12:03 +0000 http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/#comment-426535 One solution... Get rid of cable and rent your favorite shows on dvd from (insert favorite online dvd rental company here). For about a third of the price you would pay for basic cable, you could watch all the best shows without the commercials. One solution... Get rid of cable and rent your favorite shows on dvd from (insert favorite online dvd rental company here). For about a third of the price you would pay for basic cable, you could watch all the best shows without the commercials.

]]> By: Alex http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/comment-page-1/#comment-426514 Alex Thu, 31 Jan 2008 21:54:40 +0000 http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/#comment-426514 Aw, you know what I mean pudifoot! I've fixed it nonetheless. Aw, you know what I mean pudifoot! I've fixed it nonetheless.

]]> By: Dave http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/comment-page-1/#comment-426507 Dave Thu, 31 Jan 2008 21:52:56 +0000 http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/#comment-426507 "So, what is the American government doing about our dismal national saving rate? " So, why do you expect the <i>government</i> to do something about the dismal savings rate? The problem <i>is</i> the government; more specifically, leftist politicians who want people to rely on the government for everything, and write policy accordingly. "So, what is the American government doing about our dismal national saving rate? "

So, why do you expect the government to do something about the dismal savings rate? The problem is the government; more specifically, leftist politicians who want people to rely on the government for everything, and write policy accordingly.

]]> By: Christophe http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/comment-page-1/#comment-426485 Christophe Thu, 31 Jan 2008 21:32:50 +0000 http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/#comment-426485 Yep at $0.40 an hour it's easy to save 20 cents. ...just kidding... unfortunately. Yep at $0.40 an hour it's easy to save 20 cents.

...just kidding... unfortunately.

]]> By: artbot http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/comment-page-1/#comment-426133 artbot Thu, 31 Jan 2008 17:28:15 +0000 http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/#comment-426133 Hmm, wages have flattened or gone down the last 20 years. Consumer goods, food and energy have gone up up up. If only we could put some "top...men" on it to figure out why we aren't saving enough. Our Motto: Apocalyp...I mean, America: Still Blindly Consuming! Hmm, wages have flattened or gone down the last 20 years. Consumer goods, food and energy have gone up up up. If only we could put some "top...men" on it to figure out why we aren't saving enough.

Our Motto: Apocalyp...I mean, America: Still Blindly Consuming!

]]> By: Tony LaRocca http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/comment-page-1/#comment-426066 Tony LaRocca Thu, 31 Jan 2008 16:51:10 +0000 http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/#comment-426066 In the days following 9/11, I noticed that in every speech, President Bush worked in the phrase "go out and shop" over and over again: "I'm glad to see women going out shopping with their Muslim friends," and "I'm glad to see Americans aren't afraid to go out and shop." are a few examples. Someone else noticed, did a little research, and wrote an article about how 2/3 of America's economy comes from the middle class buying products made overseas in malls. Sadly, this is a formula that our government will never take steps to fix. In the days following 9/11, I noticed that in every speech, President Bush worked in the phrase "go out and shop" over and over again: "I'm glad to see women going out shopping with their Muslim friends," and "I'm glad to see Americans aren't afraid to go out and shop." are a few examples. Someone else noticed, did a little research, and wrote an article about how 2/3 of America's economy comes from the middle class buying products made overseas in malls. Sadly, this is a formula that our government will never take steps to fix.

]]> By: sparge http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/comment-page-1/#comment-425963 sparge Thu, 31 Jan 2008 15:32:12 +0000 http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/#comment-425963 "Television is nothing more than a sales tool" Duh. TV shows are not the product. TV watchers are the product. "Television is nothing more than a sales tool"

Duh. TV shows are not the product. TV watchers are the product.

]]> By: Benagain http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/comment-page-1/#comment-425958 Benagain Thu, 31 Jan 2008 15:30:07 +0000 http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/#comment-425958 Quick comment, obviously having a negative savings rate is not that good, but too high of one isn't fantastic. I was in China for a semester abroad and one of my classes mention their absurdly high savings rate as a problem since the money isn't doing anything in most cases. Quick comment, obviously having a negative savings rate is not that good, but too high of one isn't fantastic. I was in China for a semester abroad and one of my classes mention their absurdly high savings rate as a problem since the money isn't doing anything in most cases.

]]> By: Jerse http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/comment-page-1/#comment-425953 Jerse Thu, 31 Jan 2008 15:28:12 +0000 http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/#comment-425953 Actually, the average US savings rate is between 0-2 cents per dollar. That's probably still 0%, but I though I'd clear that up. Actually, the average US savings rate is between 0-2 cents per dollar. That's probably still 0%, but I though I'd clear that up.

]]> By: Tempscire http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/comment-page-1/#comment-425865 Tempscire Thu, 31 Jan 2008 14:44:20 +0000 http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/#comment-425865 I was about to say, tomtheman5, that I just took a personal finance course last semester, and, yeah, negative savings right now, bottoming out a trend over the last 20 years to save less and less. I was about to say, tomtheman5, that I just took a personal finance course last semester, and, yeah, negative savings right now, bottoming out a trend over the last 20 years to save less and less.

]]> By: tomtheman5 http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/comment-page-1/#comment-425789 tomtheman5 Thu, 31 Jan 2008 13:54:27 +0000 http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/#comment-425789 Well, spending does keep the economy afloat. Can't have wages, profit, if you there's no one on the other side spending... But the American saving rate is pitiful. Actually, wouldn't the rate be negative, considering most Americans are in debt? Well, spending does keep the economy afloat. Can't have wages, profit, if you there's no one on the other side spending...

But the American saving rate is pitiful. Actually, wouldn't the rate be negative, considering most Americans are in debt?

]]> By: Pudifoot http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/comment-page-1/#comment-425782 Pudifoot Thu, 31 Jan 2008 13:50:56 +0000 http://www.neatorama.com/2008/01/31/with-chinese-saving-rate-at-50-and-american-at-0-us-government-tried-to-convince-china-to-spen-more-and-save-less/#comment-425782 Spen more? Hasn't there been enough spenning in the world!?! Spen more? Hasn't there been enough spenning in the world!?!

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