SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Wyätt Gwyön who wrote (76772)12/28/2006 8:25:31 AM
From: GST  Read Replies (2) of 110194
 
America is a 'cash flow' society. 'Asia' is a balance sheet economy. 'Asia' has a memory of extreme poverty. People who have experienced extreme poverty tend to save more money -- they never want to repeat the experience. They minimize their liabilities and maximize their assets. We had a generation that had a similar experience in the 1930's -- and they have now mostly passed away. The population today knows little of the experience of poverty -- except of course for the chronically poor that America has mostly discarded, jailed or sent to war. We are now a 'cash flow' society -- a car does not cost $25,000, it costs $300 a month. A house does not cost $400,000, it costs $3,000 a month.

Despite protests to the contrary, we trust our government -- we trust it to manage social programs like social security, medicare and of course the dollar itself. Asians by and large do not trust their governments. They know them to be corrupt and self-serving. Instead, they trust their savings and their families. We don't have savings and we send our families to institutions to be housed and fed when they get older -- of course this depends on our cash flow and theirs as well.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News