First, I bring you my current adopted hometown in 2025 according to McKinsey:
A GDP of $37,000 per capita would be roughly equivalent to today's UK.
Next, from the Wall Street Journal, I bring you this interesting graphic about the US savings rate, especially among the youngsters. It seems the great recession has taught them a lesson about financial prudence:
This is as a share of non-farm jobs. And here comes the sequester!
At least you have been aggressively saving, right?
1 comment:
The rise in the under-35 savings rate may or may not be a good thing. If you are young and "saving", it means you are not buying a house, not buying a car, and not consuming at the time when your expected future earnings growth should be highest. There are certainly pluses and minuses to all of those consumption decisions (both at the individual and macro levels), but I think it will be especially to look back in a decade at how this generation fares financially given a much lower share of net worth tied up in housing equity.
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