To: The Vet who wrote (4795 ) 12/26/1997 6:27:00 PM From: Bill Jackson Respond to
The Vet, You are so right about the HK crowded conditions. Often the family will live 12 to an apartment, and they will all work and save every penny by living a the cheapest and most cost effective foods. Each will have a job and make $10,000 to $50,000 US $ each, say an average of $20,000. With co-op living and cheap food and low taxes they can save 50% of this(don't laugh, they do it) An America would have 30% taxes, plus pension and other costs and would be lucky to see $12,000 out of the $20,000. It would take 90% of the US residual money to live, allowing him to save $1200. With 8 times the saving rate and hyper dense occupancy the family can save $100,000 + per year. Do that for ten years and with investment, stock markets etc and you could end up with $2 million US. then you emigrate to the USA/Canada/UK. All members are used to hard unending work and group living, so they do it here and it works here too, they prosper like crazy. The cradle to grave support system we have here cripples us compared to these modes of operation. To be sure we might not want to live that way, and after their young have been seduced by our ways they lose those hard work ethics, but it takes them some time, and they inherit the parents money, so the first generation earns the fortune, the second keeps it, and the third blows it principal is just starting to operate.
