Why are people not saving money?

Question

The U.S. savings rate is in the negatives. Also, many other European countries are not faring so well. The only countries that has a high savings rate is Singapore, China, Japan, and South Korea. What is wrong with us? Dont we realize social security and medicare is going to be gone? Are we all ignoring this?

Answer 1

people do save money,bu not the people in the city's ,the reason the country's you mentioned have high savings rating is because its in there blood,they weren't as prosperous as they are now,the the time they were poor they had no option but too save little money they had.

so it comes automatically through there blood,also there are country's that have higher savings rating than that,but were not surveyed .

Answer 2

Yes. It is a form of denial.

But I think it is also a matter of not having a lot left over. In ninth grade economics class, we learned that there is a limit to the amount of money in an economy. Otherwise the government is printing too much money, and the result is runaway inflation. In any economy, some people will be really good at gathering money up into big piles. If the piles get too big, money gets out of circulation. If money is scarce, then it is hard to save. The trick is to ensure that some of that accumulated money gets back into circulation. That keeps the economy going. The problem is, when you have the big piles of money, you don't want to give it up. Thank heavens we have tax cuts for the rich.

Answer 3

Because paying for war to prove we are the top dogs of this messed up world is obviously more important than providing a stable living envirionment for retirees.

Answer 4

money is worthless
here today and gone tommorow
cant bring it in the world and cannot take it out
about time people start seeing that

Answer 5

we aint got no money to save