Dropping real wages have nothing to do with it or the 20-25% the credit card companies charge or the balooning housing prices? If you don’t have anything left you can’t save anything.
The ”welfare state” you are whining about is in fact a subsidy for Walmart, Amazon etc who pay crap salaries and the state need to hand out checks so that the employees can afford food at all.
The economic concept of High Time Preference kicks in as people realize that saving and investing is futile as inflation destroys cash, low interest rates mean mal investments, people invest in more and more risky assets seeking some return and government taxation and realized and unrealized capital gains makes any seed corn pointless.
Dropping real wages have nothing to do with it or the 20-25% the credit card companies charge or the balooning housing prices? If you don’t have anything left you can’t save anything.
The ”welfare state” you are whining about is in fact a subsidy for Walmart, Amazon etc who pay crap salaries and the state need to hand out checks so that the employees can afford food at all.
The economic concept of High Time Preference kicks in as people realize that saving and investing is futile as inflation destroys cash, low interest rates mean mal investments, people invest in more and more risky assets seeking some return and government taxation and realized and unrealized capital gains makes any seed corn pointless.
I'm personally buying many dirt bikes :D
Why dirt bikes? 🤔
Haha because they are damn fun.