Chinese citizens have 38% savings rate, this is amazing. US citizen saving rate is -1

BlueTurtle · Sep 21, 2012

Happiness Meter???

Or Quality of Life meter?

Pollution meter?

Health meter?

I'm not saying Americans will win them all, but saving money is only a a partial picture. It assumes that life is good.....LOL. and maybe it is. and maybe it is not.

I have the formula on the perfect life, but it will cost you 100,000.

hope you have savings!!!

StarDust9182 · Sep 21, 2012

Quote from BlueTurtle:

Happiness Meter???

Or Quality of Life meter?

Pollution meter?

Health meter?

I'm not saying Americans will win them all, but saving money is only a a partial picture. It assumes that life is good.....LOL. and maybe it is. and maybe it is not.

I have the formula on the perfect life, but it will cost you 100,000.

hope you have savings!!!

Or pay nothing and listen to the buddha:

To enjoy good health, to bring true happiness to one's family, to bring peace to all, one must first discipline and control one's own mind. If a man can control his mind he can find the way to Enlightenment, and all wisdom and virtue will naturally come to him.

McFadden5252 · Sep 21, 2012

Quote from StarDust9182:

Isn't this done mostly on credit since the 1970s? The Chinese can't get credit so they have to save for things. Their time will come also.

Yes, 80% of cars in China are purchased with straight cash on the spot. I think in the US it is about 10-15% who purchase cars with cash. That's just one example but look at the entire Housing Crisis. Debt Financed Consumption is our biggest problem. When we fought WW2 we rationed everything possible. When we went to war in Iraq and Afganistan, Bush said "go out and buy as much as you can to help out our economy." Obama criticized this statement when running for office.. Months later he told everyone to go out and start consuming. The belief is that the entire economy runs off of consumption nowadays I'm guessing? My dad said back in the 80's you could get a CD for around 15% Interest. Holy shit would I love to have that today! I'm 20 years old and in college as a sophomore for Business Management Major and Econ Minor. During the summers I work 45 hours a week and it kills me to watch my money literally fade away slowly at -1% instead of a nice lookin 8% interest rate. Wouldn't that be nice watching my hard work and savings pay off and to be rewarded for saving, which is still a part of our GDP? I swear im not bitter -_-

eurotrasher · Sep 21, 2012

Quote from StarDust9182:

80% of cars in China are purchased with straight cash on the spot..........

More...

100% of them never survive.

<iframe width="640" height="360" src="http://www.youtube.com/embed/94HTIueOuDQ?feature=player_detailpage" frameborder="0" allowfullscreen></iframe>

McFadden5252 · Sep 21, 2012

Quote from eurotrasher:

100% of them never survive.

Lmao nice vid, but they are still buying other cars. Largest growing middle class in the world. Although they are still poor, they are starting to consume more. Research foreign companies who trade to China, something that they are starting to buy a lot of over there. Invest & Enjoy!

atticus · Sep 21, 2012

BlueTurtle · Sep 21, 2012

Quote from StarDust9182:

Or pay nothing and listen to the buddha:

To enjoy good health, to bring true happiness to one's family, to bring peace to all, one must first discipline and control one's own mind. If a man can control his mind he can find the way to Enlightenment, and all wisdom and virtue will naturally come to him.

Easier said than done.....easier said than done.

But I think you are correct. or the Buddha is.

BlueTurtle · Sep 21, 2012

Quote from eurotrasher:

100% of them never survive.

<iframe width="640" height="360" src="http://www.youtube.com/embed/94HTIueOuDQ?feature=player_detailpage" frameborder="0" allowfullscreen></iframe>

then the first comment on youtube:

1: The car is Australian, not Chinese
2: The vehicle was loaded with 375 Kg /827 lb of sand
3: The vehicle impacted the wall at 100Km/H / 62M/H
4: The wall was solid, not honeycomb as in every other crash test
5: The crash was to test the a new facility, and has since never been repeated

Grandluxe · Sep 21, 2012

Quote from BlueTurtle:

then the first comment on youtube:

1: The car is Australian, not Chinese
2: The vehicle was loaded with 375 Kg /827 lb of sand
3: The vehicle impacted the wall at 100Km/H / 62M/H
4: The wall was solid, not honeycomb as in every other crash test
5: The crash was to test the a new facility, and has since never been repeated

No wonder i have never come across an AUSSIE car before.

peilthetraveler · Sep 21, 2012

Quote from RoninW:

Forgive me for being blunt but are you stupid or something?

They save 38% regardless of how much that is, while Americans save negative percentage.
Is that not clear?
Wasn't I clear?

I have difficulty believing there are real investors/traders on this site. If there are any they are keeping quiet.

Ok, lets think this through. Chinese are saving at 38% and americans are saving at -1%.

Now...what are the chinese saving their money in? Oh thats right...american treasury bonds.

They are giving us their money so we can buy their stuff that we dont have the money to pay for. Does anyone else see this as ending bad for the chinese savers?

Think of it this way. If you were selling your house and some guy who is in debt to his eyeballs comes along and says, "Yeah, I want to buy your house, but I need you to loan me the money so that I can buy your house" Would you do it? Because thats exactly what the chinese are doing. They are loaning us money to buy their stuff. Makes no sense. Its the greatest con a country has ever pulled on another country.