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Cake day: December 1st, 2023

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  • Japanese conservative monarchists are wild.

    Look up the Google Maps reviews of the imperial palace. For some context, the majority of the imperial palace is completely off limits to the general public (in stark contrast to most developed countries), and the royal family does a new years greeting.

    The reviews are monarchists unironically saying things like that they travelled for days, lined up for hours, caught a glimpse of one of the royal family, were temporarily transported to heaven, and will dedicate their lives hoping for the forever prosperity of the royal family.




















  • Bloomberg is stock market brained, but more generally China’s extremely high savings rate is regarded as a bad thing, because this is usually due to the combination of high income inequality, low social safety nets, and high housing costs.

    Basically, there are too many poor households in China that are saving excessively due to anxieties about lack of safety nets and high housing costs.

    Low education/financial literacy and poor regulation of financial markets also make Chinese households very risk averse to consuming, investing, or even taking out loans (credit cards are very unpopular). Everyone is just excessively dumping their savings in assets perceived to be safe.

    Once savings are in “safe” assets, they are inaccessible to other productive uses like startups or other loans. This is the exact opposite of a productive economy, and is what the article tried to convey.

    China’s high savings: Drivers, prospects, and policy implications - ScienceDirect - https://www.sciencedirect.com/science/article/abs/pii/S1566014125001049