tag:blogger.com,1999:blog-582368152716771238.post465214357019662249..comments2024-03-28T05:14:02.071-05:00Comments on The Grumpy Economist: Are we saving too much for retirement?John H. Cochranehttp://www.blogger.com/profile/04842601651429471525noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-582368152716771238.post-51838427841351165922014-06-26T02:08:43.164-05:002014-06-26T02:08:43.164-05:00We cannot save for retirement, that is completely ...We cannot save for retirement, that is completely impossible. Goods and services do not pop up out of nothing. If we only save and do not have any progeny, we maybe will have money, but definitely nothing what we could buy.<br /><br />Saving for retirement serves for a completely different purpose: to differ from the average in an unequal society. In an equal society, saving for retirement is pointless.<br /><br />Retirement is living at the expense of the young who produce the goods and services - always. Money only hides this dependency from our eyes, it does not overcome it.ThomasWnoreply@blogger.comtag:blogger.com,1999:blog-582368152716771238.post-5234933664662905302014-06-26T01:56:38.311-05:002014-06-26T01:56:38.311-05:00No. The complement to every is none.No. The complement to every is none.ThomasWnoreply@blogger.comtag:blogger.com,1999:blog-582368152716771238.post-48746851324334737682014-06-24T18:15:25.084-05:002014-06-24T18:15:25.084-05:00And is QE indicative that we are saving too much o...And is QE indicative that we are saving too much or not enough - or does QE simply swap green M&M's for red M&M's without affecting the incentive to save versus spend?FRestlyhttps://www.blogger.com/profile/09440916887619001941noreply@blogger.comtag:blogger.com,1999:blog-582368152716771238.post-56892975485980235492014-06-23T11:47:33.633-05:002014-06-23T11:47:33.633-05:00Ugh. That last image. I haven't been this na...Ugh. That last image. I haven't been this nauseous (excuse me, nauseated) since the "monkey brains" scene in that horrible sequel to (the great) "Raiders" about thirty years ago. Think I'll skip lunch.<br />Neal Reynoldsnoreply@blogger.comtag:blogger.com,1999:blog-582368152716771238.post-40915829133145289532014-06-23T10:57:18.242-05:002014-06-23T10:57:18.242-05:00Having wrestled with this question for awhile, the...Having wrestled with this question for awhile, the biggest unknown factors are life expectancy and cost of living (inflation) over an uncertain duration. much like the "terminal value" of a firm, you have to make your best guess and accept a WIDE confidence interval.paulnoreply@blogger.comtag:blogger.com,1999:blog-582368152716771238.post-3834737298313370832014-06-23T05:23:24.615-05:002014-06-23T05:23:24.615-05:00For every person saving there is another person sp...For every person saving there is another person spending? Jason Weinmanhttps://www.blogger.com/profile/11211087552762790514noreply@blogger.comtag:blogger.com,1999:blog-582368152716771238.post-67282240103679180582014-06-23T05:17:13.315-05:002014-06-23T05:17:13.315-05:00 Retirement is an illusion created by cheap energy... Retirement is an illusion created by cheap energy. Plan on doing something useful for as long as physically possible,like the first million years of our evolution. Save for disability which is not an illusion. Saving is very difficult unless you count virtual savings, computer bytes of doubtful value. The kids know they will never have the biblical granaries or acres of rich land set aside. Storing food(or drink) in each other was one historical approach.Jim and Linda Kelleyhttps://www.blogger.com/profile/16837860762554929164noreply@blogger.comtag:blogger.com,1999:blog-582368152716771238.post-33499280385369865132014-06-23T03:02:04.770-05:002014-06-23T03:02:04.770-05:00Saved money is not spent if it’s just lodged at th...Saved money is not spent if it’s just lodged at the central bank, which is what a fair amount of QE money is doing, I suspect.Ralph Musgravehttps://www.blogger.com/profile/09443857766263185665noreply@blogger.comtag:blogger.com,1999:blog-582368152716771238.post-53737845520835558742014-06-22T16:35:35.769-05:002014-06-22T16:35:35.769-05:00"Are we saving too much for retirement?"..."Are we saving too much for retirement?"<br /><br />Presumably for every person saving, there is another spending, so what does that even mean?FRestlyhttps://www.blogger.com/profile/09440916887619001941noreply@blogger.comtag:blogger.com,1999:blog-582368152716771238.post-76609808477191078742014-06-22T14:51:22.775-05:002014-06-22T14:51:22.775-05:00I don't know what the overall statistics show ...I don't know what the overall statistics show but there is some part of the middle class that will rationally over-save for retirement. Calls for cuts to Social Security run at least some risk that the mere threat of cuts will increase the middle class's savings rate above the optimal level. <br /><br />I expect that there is already a very large pregnant tax liability associated with the baby boomer IRAs and 401(k). We hear those plans described as tax deferred plans for the investors but do not seem to hear much about the fact that they also defer tax receipts for governments.Absalonhttps://www.blogger.com/profile/09131268683451462949noreply@blogger.com