jadziasman

Japan's Lost Quarter Century - Could It Happen to the U.S.?

Statistics can be misleading.

The über rich have captured a greater percentage of the total wealth than at any time since the 1920's. It is understandable why the savings rate has decreased. But, the have mores have not gotten us to this point via their own greedy efforts - not they haven't tried hard enough to take the whole pie.

Government tax policies - particularly the home mortgage interest deduction has led many into buying a bigger home than they need - I fit perfectly into this category as many boomers like me do. And - as George Carlin observed - we need a bigger place to put our stuff and then fill it with even more stuff. Thirty years ago, three car garages were rare.

We are more affluent than our parents but carry more debt (personal, business and government) and are more uncertain of our future than they were at our age.

I am hoping for the best but expecting the worst. Retirement would have been nice but I'll be grateful to have a job, a place to call home and food in my belly until I finally shed this mortal coil.