this post was submitted on 14 Mar 2024
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When consumers save, the economy stops! With less profitability on the table, market agents HAVE to disinvest, layoff workers, etc.
Why can't workers realise they're bringing doom upon themselves for being so selfish!?
China is due for a major crysis! It probably won't sustain itself after this quarter. /s
I'm sad I can articulate this nonsense, but can't refute it. I know it's nonsense, but explaining why/how is just so hard.
In essence, the notion that having savings is undesirable stems from the neoliberal economic ideology prevalent in Western countries, where financial capitalists seek to maximize profits by any means necessary. This includes creating unemployment and inducing debt among workers to force them to spend their savings. Conversely, in China, where the working class holds greater power, such manipulative tactics are not tolerated, and people's savings remain respected and valued.