I saw this post on digg and just had to share my thoughts. America is negative savings. Wow, this is a shocker. I mean in a country where the majority of people are in debt. The average income in Kent county is 51k and the average new car / suv cost is 30k (http://www.edmunds.com/help/about/press/101245/article.html in 2005).
We live in a country where people spend more then they have. They use Credit cards to cover the rest and banks are more then willing to allow them to do that. This is not a good thing, at some point people who are in massive debt will not be able to pay and their debt is then passed on to others. Who themselves already have debt they cannot pay.
Maybe I should think about moving to China or Japan. Not that life would be better but at least country is better with it’s money
http://en.wikipedia.org/wiki/List_of_countries_by_current_account_balance