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sdas [7]
3 years ago
10

What is the average saving rate in Europe as compared to the average saving rate in North America? Dave Ramsey chapter 2 (Saving

s by Nation)
History
1 answer:
Alla [95]3 years ago
4 0

In Europe the average saving rate is 10.6% and in America it is 3.5%. This means that every fiscal year Americans save only 3.5% of their yearly income and Europeans save 10.6%.

This is dangerous for Americans since in the event of an unexpected crisis they will not have the liquidities to pay for it. One of the reasons is that in the USA Americans use credit cards massively and are thus usually indebted to Credit Card companies and most of their income goes into paying them both the interest and the principal. Marketing is also far more aggressive in America and manipulates people into buying stuff they do not really need.

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Henry W. Grady, born in Athens in 1850, Grady became well known for his great ability as a writer and debater. After leaving the University of Georgia, he studied literature and history at the University of Virginia in Charlottesville and later on persued a career in journalism. Throghout his life as a journalist, Grady managed several papers in the South and became an influential political figure in that with his arguments and easiness of conviction, he was able to push forward the nominations and candidacies of several of his fellow political members at the Atlanta Ring, a group of proindustry Democrats who believed firmly in the ideals of the New South. Grady firmly believed in the need to promote industrial investment from the North, a reinitiation of the Southern industries, a change in the trust between North and South to increase investment. When he returned to Atlanta, Grady dedicated himself to underlining the magnificence of Atlanta as a center over Macon, Athens and Augusta. Despite the favorable effects that Grady had to improve the economical growth of Georgia, but most importantly of Atlanta, he was highly critized by his peers and fellow Georgians for exposing the South with his ideas and policies to the control and subjugation of the North, selling the South to the North and inviting oppression on Souther farmers. He was also critized for attempting to show the North a more bening stand on the issue of freed slaves and slavery. Grady died on December of 1889.

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Hope this helps :)
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