By
Megan McArdle
Why can so few people seem to save any money? The number of people scraping along from paycheck to paycheck is astonishing; surveys routinely find that somewhere between a third and half of all Americans don’t have the savings to fund ordinary emergencies -- a moderately large repair, a month with no income. These are not the kind of astonishing runs of bad luck that no one could realistically expect to cover, like a $100,000 medical bill, or a multi-year illness that makes it impossible to work. They’re just the normal vicissitudes of regular life, and somehow, Americans are unprepared.
So, if i bet on people being immature, foolish and bad with their money, i will win. Its not everyone, but more than enough. It also dedcribes human beings, not just americans. Who knows what kind of market crash is coming but we sure are ripe for one. Before the last crash Hummers were popular, now its Jeep.
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