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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 78.00+0.7%3:59 PM EST
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To: Stock Farmer who wrote (54994)9/6/2001 5:43:43 PM
From: RetiredNow  Read Replies (1) of 77399
 
Yes, I agree with much of what you say. Unfortunately, since we try to make concise posts, often we simplify for the sake of brevity, rather than going into excruciating detail, most of which won't even be understood on these threads. But to say that the cure for the US's ills is saving more is really bad thinking. That's what my main point was. Japan has a host of problems. It certainly doesn't help that they save so much, although from an individual's perspective anyone can surely understand their psychology to do so. I for one am glad right about now that Americans don't know how to save even in bad times, because consumer spending is still one of the good things we have going for us, not to mention tax cuts and rebates. But you are right. If we want to be precise, then it's important to have a healthy balance between saving and spending in order to have a healthy economy over the long term. I'd argue that savings are necessary primarily as a vehicle for capital that can be loaned at a profit to all those promising startups that keep our economy innovating and expanding.

One thing to caution you on, though, as I'm sure you are already aware of: it's very important to distinguish what's good for the economy from what's good for individuals. If you mix them up, then you'll often find that thinking in terms of macroeconomics doesn't help you much.
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