This spending vs saving narrative is one of the major differences between Keynesian and Austrian economics. Keynesian logic is that people in a nation shouldn’t be “savers”. They should be out spending money – driving the economy. It’s your duty to spend and not save. Austrians think that savings is an important component of any healthy economy. Of course these concepts are at cross-purposes. Let’s dig in!!
News and Links
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US Personal Savings Rates Data Since 1959
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Danske Bank Pays Two Billion Dollar Settlement for Money Laundering Charges
The Digital Asset Anti Money-Laundering Act
Eight Social Media Influencers Charged by SEC with Stock Manipulation Scheme
Tokyo Power Company Mining Bitcoin with Excess Power
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I can be reached by email at mcintosh@genwealthcrypto.com and on twitter at @McIntoshFinTech. My mastodon handle is @mcintosh@podcastindex.social. Looking forward to hearing from you!
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Music Credits
Protofunk by Kevin MacLeod
Link: https://incompetech.filmmusic.io/song/4247-protofunk
License: https://filmmusic.io/standard-license
The following music was used for this media project:
Music: Carol Of The Bells [Metal Version] by Alexander Nakarada
Free download: https://filmmusic.io/song/7138-carol-of-the-bells-metal-version
License (CC BY 4.0): https://filmmusic.io/standard-license
Artist website: https://www.serpentsoundstudios.com/
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- Source: https://genwealthcrypto.com/episode-087/
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