Timmy elsewhereSeptember 15, 2013 Tim WorstallTimmy Elsewhere3 CommentsAt the ASI. An implication of why the Chinese save so much. previousHey, Preacher, leave the whores alonenextWilly Hutton is really just extraordinary 3 thoughts on “Timmy elsewhere” Luke September 15, 2013 at 10:25 am If we all save like the Chinese, who’s going to borrow it all? bloke in france September 15, 2013 at 7:16 pm Yes Luke. That people in the third world have to save, because they have a one child policy and no welfare net, is obvious. That they save it in $ is normal. Thus these third world savers subsidise first world consumers. So far so mechanical. What grips my shit, from a moral perspective, is that the first world will in time come to shaft the third world savers. Which they will, either through inflation, default, currency realignment or whatever. JamesV September 16, 2013 at 9:33 pm @rosBIF, Currency realignments are good. They are how to shaft people without shafting them. It is merely the market at work, ironing out imbalances (like third world savers stupidly bankrolling western consumption, curse them!). Ergo the euro is bad. Or something. Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment.