Monday, October 11, 2004

The top two capital importers in the world today are the United States in the pole position (71.5% of global total) and, at a very distant second, the United Kingdom (4.5% of global total). Why are the US and the UK importing so much of the rest of the world's savings? In part because they don't have any of their own.
�57bn -- A report for the Government today identifies this figure as the total [annual] gap between how much people are saving and how much they need to save to ensure a comfortable retirement

[ed. -- about �1000 a year -- nearly $1800 at current exchange rates -- for every man, woman and child in Britain; for my family that would mean socking away an extra $9000 a year!; thank goodness for those employer contributions to my TIAA-CREF account . . .]

13m -- The number of British people not saving enough to provide for a secure retirement, almost half the 28m working population


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