Thrift has a long tradition in Germany, but stockpiling cash might be damaging the country’s growth and eroding its wealth ‘Even a little can help when you need it!’ says a savings bank poster from 1953, from a museum exhibition.
Misleading. Despite Germany‘s high taxes and social security, Germans will only get 49% of their net income in retirement, soon even lower, deducted further by health insurance and taxes. Greek retirees e.g. receive 80% +. BtW, Saving rates mirrior trust in government.
In tax havens
calculandtrade Thanks
Since when is saving a bad thing? Theory says saving stifles investment but people know the economy is shaky and a crash is incoming so they are being prudent. Why spend your cash on material goods when you don't have a safety net to fall back on in case of turmoil?
Who might want to wipe out the citizens' savings, and why?
There is a plan for some emergencies.
Something Americans USED TO do.
The average American worker makes 50% more than its European counterparts, and pays 50% Less in taxes, in most cases.
Rich Germany: fairy tale & became a worse copycat of poor GDR. Poor on freedom. Poor on security. Poor on innovation. Rich on inequality under the rule of a postwar trash fake elite& Not even well educated or smart population electing dubious beings like Merkel & Schröder
Unlike clueless Americans. We live beyond our means, charge everything and stockpile guns instead of money for some reason.
Seems prudent to me.
They can invest in US markets!
CNBCJulianna CNBCi 🤷🏻♂️🤷🏻♂️🤷🏻♂️
Where to begin? 🙄
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