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Merv outvoted
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Alert...Graham_Devon wrote: »Becoming like Japan should not be an aspiration.
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We are nowhere near to Japan in any way except sharing awful government finance policy and repeating it till it breaks, they were much stronger to begin with
Its only a paradox if people kept their wealth valued in plain currency sitting in a box.paradox of thrift
If they keep it in a bank and receive interest, the money is being loaned and that saved work (pay) is used and so there is no contradiction.
Less boring then buying a Ferrari or Jaguar as a quango chief may prefer but probably also more useful, nothing paradoxical about savings.
Capital saved and employed is vital for investment and further growth, taxes and government is not a vital ingredient more often its the salt confused with sugar that makes a ruined recipe. Eventually Ed balls etc hopefully will have to digest his own terrible advice0 -
sabretoothtigger wrote: »Its only a paradox if people kept their wealth valued in plain currency sitting in a box.
If they keep it in a bank and receive interest, the money is being loaned and that saved work (pay) is used and so there is no contradiction.
£1.2tn is currently on deposit struggling to maintain value.
So not quite like putting £5 notes in a box under the bed but pretty close.0 -
Households save more during recessions
[FONT=Arial,Arial][FONT=Arial,Arial]The historical peaks in the saving ratio have been during, or very close to, periods of recession. The household saving ratio reached a 60 year high of 12.2% in 1980 when the UK economy was in recession.
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You can see from the spikes on the chart that savings tend to increase in recessions.
What happens when the economy improves...another return to low single figures I'm guessing.
Millions have no savings at all...I suspect this has been the case for decades and not something that has developed since the slump.
http://www.annuitysupermarket.com/blog/news/six-million-brits-without-any-savings0 -
Mr._Pricklepants wrote: »Didn't know that. I keep on reading on this forum how the majority is living hand to mouth.
Oh well.
Doesn't give you the mix.
For all I know I could be making up for a 100 that don't save or have the ability to do so in any meaningful way."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Mr._Pricklepants wrote: »Didn't know that. I keep on reading on this forum how the majority is living hand to mouth.
Oh well.
Perhaps you shouldn't believe everything the nulabor cheerleaders write.0
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