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the point most people in europe are way more concerned about is, that

the saving / debt distribution in the US is getting increasingly unequal, and geared to the very wrong people.


This replicates, what happened after 1990 in Japan, with nominal high gross savings, but terrible, and even getting worse household debt, see OECD Annex 58 on that.

That is what people here always said, since hundred years, that the folly of aggregate numbers hide developing social crashes.

At some point the unsustainable private debt of some will then be converted into public debt, most likely via the bank path.

Do you in Canada want to go the path of Germany or of Japan? Your Choice, I believe you still have it for a few years.

Well I certainly agree with the point about aggregate numbers. I was bit surprised to see that Jspan's aggregate saving rate was so close to Canada's given its longer term malaise. Obviously the saving rate is not the only determinant of longer term performance given Germany and Canada have fared better despite similar savings rates.

Interesting how some of the world's wealthiest nations exhibit the highest gross savings rates.

I have to ask. Is the TFSA program noticeably affecting private savings rates in Canada? TFSA = tax free savings account.


Just because these thing are getting always mixed up, when people talke with each other:

a) I was looking at "Annex Table 58. Household wealth and indebtedness"
Absolute Stock, and not relative flow (changes)

especially the delta of [Total] Liabilities"
[versus] "of which: Mortgages" and some seemingly little innocent 30 % hide a lot more personal drama, when things go ugly.

b) the models how to calculate forward (national) saving stocks ("wealth") from savings rate , I have found pretty useless, and I did look into that in significant detail, trying to "just fix" what others have done before.

Anybody interested to discuss the Solow 1956 / 1957 papers "sine ira et studio" as a kind of paper analysis exercise ?

I would love this.

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