Automatic Savers

After all, higher private consumption implies an end to China s surplus saving and thus to the seemingly open ended recycling of that surplus into dollar based assets such as US Treasury bills.

Jamaica, for example, would issue aluminum bonds Nigeria would issue oil bonds Sierra Leone would issue iron ore bonds and Mongolia would issue copper bonds.

America s Saving Surprise

Japan s Savings Crisis

Savings rates shot up.

Demand savings accounts

Term savings accounts

Saving. A domestic saving rate in excess of 50 has served China well.

Both the savings shortage and savings glut hypotheses confuse accounting outcomes with causes.

Most countries have introduced some form of forced savings (such as compulsory contribution to pension and provident funds) and provide tax incentives to stimulate long term household savings.

Land titles

Balancing China s High Savings

In other words, the government s negative saving is being financed by the private and household sectors positive saving.

Create Growth Linked Bonds

Eurobonds without Fear

The Trouble with Eurobonds

Negotiable documents of title

America s Saving Rate and the Dollar s Future

Too Much Saving, Too Little Investment

Saving may also take the form of individual contributions to retirement accounts or employer contributions to corporate saving plans.

Shlomo Benartzi Saving for tomorrow, tomorrow

Cut Now, Save Later

Talk abounds of a global savings glut.

Why Are Savings Patterns So Different?

Africa s Eurobond Bonanza

Brady Bonds For the Eurozone

This is where Eurobonds come in.

Talk abounds of a global savings glut. In fact, the world economy suffers not from too much saving, but from too little investment.

Oil rich countries tend to save a lot. Countries with serious internal crises or conflicts tend to save little.

Apart from accounting for the global divergence in savings rates, tight credit constraints in China might explain the country s high, and rising, savings rate especially as the large rise in national savings is attributable mostly to household savings.

Nine out of 10 either cannot save through their 401 plan, decide not to save or don't decide or save too little.

Since the saving of younger savers is now high and the dissaving of the older dissavers is low, the net saving rate is high.

As this change unfolds, the enormous willingness to save, and to tolerate high saving government policies, will fade.

There is no way to predict what the saving rate will do next.

American households are saving again.

The Yètè Mali Savings Network or savings and loan cooperative.

The Provident Fund loans are not considered an investment asset.

Coco for Europe

Second, Europe needs eurobonds.

Weak Labor, Strong Securities Markets

The fundamental problem is that while some people postpone saving for sensible reasons, and will resume saving later, many others fail to save for no good reason, and are unlikely to make up for it later.

Converting all outstanding government bonds with the exception of Greece s into Eurobonds would be by far the best remedy.

While the rest of the world struggles to raise savings, China, with a savings rate in excess of 40 , struggles to get its people to consume more.

In other words, savings rates in Spain and other deficit countries in Europe had to drop once policy distortions forced up Germany s savings rate.