Criminal defense in Austin Texas.

What Are Savings?

| January 5, 2009

The people who keep track of such things (the BEA) have a specific definition in mind when they talk about saving.  It’s “personal disposable income minus personal consumption expenditure.”  Or, what people make, but don’t spend. Intuitively, it makes sense.  It’s problematic, though.  For one thing, some people object to the fact that capital gains […]

Nations Can’t Save

| January 5, 2009

Not long ago I read another one of those articles about how Americans don’t save enough. Which got me thinking about something I read a long time ago – that nations can’t save. Consider: Suppose there’s a country where everyone is the same age.  All their lives, the people work hard, and save.  They accumulate […]