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Non-Tech : The Woodshed
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To: loantech who wrote (37991)3/8/2006 6:09:02 PM
From: LoneClone  Read Replies (2) of 60901
 
aAvings rates in the US have been negative for a few years now, and say to say now Canadians have joined Americans in this folly.

On the other hand, savings rates in China approach 40%, and their society has largely retained their desire for owning precious metals.

I don't know about savings rates in India, but I do know they have the largest middle class class in the world -- up to 300 million people these days -- and there is a reverence for precious metals that has been culturally ingrained over thousands of years.

It is the custom for an Indian bride to show off her family's wealth by festooning herself with gold on her wedding day.

LC
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