this post was submitted on 05 Mar 2024
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People would if they could afford it.
That's the case for a lot of people, but others make decent money and still spend every cent they make.
True, I earn a lot but I spend half of my salary paying off my place and the rest I spend on trying to survive and do stuff for me. But then again I get government pension so it's not like I'm not doing anything.
That's an armchair rebuttal. When one is forced to economize, sh*t gets real. I've slashed and slashed and reduced my luxuries and expenses exponentially due to drastic changes in my income. It's amazing how little I need to survive, even after I think I can't cut my expenses further.
Point is, we can always AFFORD it.... 10% of my income goes to me. Doesn't matter if that's a thousand bucks or ten cents..... "People can afford it", but they still don't save.
And likewise, we "young" can see the importance of retirement.
The REAL PROBLEM,
Ahem,
Let me just grab my professor stick,
The real problem is Keynesian economics.
AKA, what happens when the government is no longer on a gold standard?
Smart people exploit the social impact of a free market. In other words, "we'll protect you from the pandemic, here's a bailout!"
...."oh noes, rapid inflation? [Because of our bailout!?] Don't worry, we'll bail "you" out again with a gas bailout!
...."never mind that this literally caused more inflation in the first place....."
TL;DR play some cryptofad games to learn the differences between The Traditional Gold Standard (Bitcoin) and The "Gold-like" Standard (USD etc).
The Tru™ TL;DR:
People don't save for the future because $20 under my mattress is worth $15 tomorrow. Because, you know, "inflation", aka smart people taking advantage of the masses not knowing how inflationary tokens work.
Ahahahah already raking in the down votes.
Tell me, did you research Keynesian economics and the gold standard before you hit that button?
Teehee. Didn't think so.
(I know you're reading this, person who hasn't voted yet. Lol).
Go back to school. Your understanding of economics is like reading anti-vaxxer commentary on modern medicine.
Complaining about downvotes? That's a downvote.
Every anti-government interventionalist claims money spending causes inflation. Every time they shift the blame to some past event to fit their model.
Government spending increased and inflation goes up with it. Zomg they were right!
Government spending goes up and inflation goes up several quarters later. Zomg they were right again!
So long as our monetary policy is pro-inflation, people like you will always find a way to tie that intentional inflation to the unintended consequences of government spending, wage increases, etc.
You have a model and damned if you won't find a way to fit the data to. The consistency in how you fit the data never matters to you.
Your models have no predictive power. They only apply in hindsight but weird never 20/20, one always has to squint just right.