Wow.. Germans have the highest average savings in Europe €54,600

[SoCalDem]

According to "Journal" (Link-TV).. the VAT went up to 19% , and most Germans surveyed plan to spend less and save even more:)

That's the AVERAGE savings..

I wonder if there's a parallel amount for the US..

[Tunkamerica]

1. isn't it like 7000 dollars in debt? eom

[Hieronymus]

2. Americans have a minus savings rate ...

true :eyes:

[fasttense]

7. A minus saving rate is the average in America

It hasn't been this low since.....before the Great Depression. Guess who was ruining the country before the Depression hit?...The repukes.

They even passed a law in the 1920s reducing inheritance tax and the Dancing Supremes ruled that Minimum Wage laws were unconstitutional. Welcome to a repeat of the 1920s.

[Cascadian]

3. Maybe they pay the German workers slightly better than here.

Then they are able to save better than American workers.



John

[SoCalDem]

4. And that VAT pays for their health care and pensions and unemployment

and they still manage to save roughly 10% (according to the report)


But then, their government is not spending brazillians of euros on a stupid war.

[Tunkamerica]

5. bingo!

[Hieronymus]

6. You got it .. they're able to save, travel freely, and are assured of retirement.

There's no fear of what could happen if someone in the family had a terrible illness, which devastates many American families.
Their health care system costs half of what the US spends to administer ours. :eyes:

[no_hypocrisy]

8. Where is the incentive to save?

1. Where is any money left over to "save" if you are in debt to begin with?
2. If you aren't in debt, then you use your "disposable income" to purchase non-necessities.
3. Even if you place your money in a savings account, you lose the value of your assets between the pittance paid via interest and the cost of inflation eroding its value.

[The Anti-Neo Con]

9. Hmm...and they are quasi-Socialist.

Socialism is SOOOO evil, lemme tell ya!:sarcasm:

[soothsayer]

10. and they have a gazillion holidays and a short work week and a

lousy work ethic to boot. I'm moving THERE!

[XOKCowboy]

12. Lousy work ethic?

I hope that was meant as sarcastic because the Germans I know and work with are tireless workers.

[roamer65]

11. Most people in Germany rent, don't they?

I have been told home ownership is quite difficult over there, due to the extremely high prices. If you don't have house payments, it is easier to save money.

[SoCalDem]

14. Not in most places here. In most cities, rents are ridiculous

and that's USED as a rationale to buy. (although more and more young people cannot get into that first house these days)

[JNelson6563]

13. I've read medieval chronicles

by visitors to Germany and they comment endlessly about the frugality and subsequent prosperity of the German people. It's the first thing I thought of when reading your post.

Julie