dramatic solutions to an old problem…
USA has completely different problems compared to India. The local population just does not save enough. Of course many of them cannot save but just too many of them do not save, but they play lottery.
So if you want to make the Americans save, you need to give them lottery tickets for opening a bank account or not touching the account for a particular amount of time….or….
sounds preposterous? well it is working!
read on
Pravin
btw,should we really believe that the indian saving rate is 40% or whatever high number alleged by the india shining bandwagon?
subroto roy @independentindian.com has shown how it is a bogus number and an artificial creature of the fractional reserve system.the govt banks hold most of the money and most of the deposits are from the govt.the measurement of savings in this distorted situation is a poor indication of our savings rate
ofcourse while our household debt situation might be better than the US the fiscal situation is nothing to be proud of.