What will be the effect if the biggest bunch of consumers on the planet suddenly start spending less and saving? ;-)
And this article is some nice, positive speculation. Unless you can show me these wonderful technologies that will revolutionise the way we burn oil and therefore extend this finite resource. And note, the article doesn't say anything other than oil resources *are* finite. On 5/10/06, Gruss Gott <[EMAIL PROTECTED]> wrote: > > One way or another, future Americans will be saving for their own > retirement, rather than continuing to pass the bill to the younger > person to their left. This is not as big a financial change as it > might seem: There was never anybody to pick up the bill but ourselves. > What will change is behavioral incentives -- to plan, to adjust > individual consumption and savings to take account of the future. > Savings foster growth. Taxes (the current way of financing retirement) > retard and discourage growth. In 1992, the median retiree over 70 had > just $8,659 in financial assets -- less than if he had put away $1.70 > a week during his working life. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Message: http://www.houseoffusion.com/lists.cfm/link=i:5:206448 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/5 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:5 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
