[ExI] Savings and wealth/was Re: More on Health Costs

[BillK]

On 5/29/09, spike wrote:
> That comment puzzled me first time I read it, now it was quoted again, and I
>  still don't get it.  There is *always* a reason to mindlessly hoard money,
>  always a hundred *very good* reasons.  This should be perfectly obvious to
>  all wage slaves, for as soon as one hoards a sufficiently large pile of
>  cash, one is freeeee of that life of wage slavery.  If one wants to continue
>  doing the old 9 to 5, and I personally know plenty who choose to do exactly
>  that, then one is free to do it.  Or not.  That's why I hoard money now: I
>  am chasing the dream of freedom.
>
>  Why is that a bugbear to Keynesians?
>

I would say it is more a problem for the 'borrow and spend' consumer
society that the US became for the last 20-odd years. It is the
complete opposite POV that has now taken hold in the new 'thrift' mood
of the people. That's one reason why I don't expect any dramatic
economic recovery for some years to come. If the government keeps
pumping money into the economy they will get the worst of both worlds,
stagflation. A stagnant economy AND inflation.

Spike, I commend your ambition to save towards economic freedom. The
problem you face is that for any wage slave to reach that objective
usually requires either (preferably both) a very high salary and / or
*extreme* saving techniques.

BillK