To put this another way, three out of five Americans have no savings to speak of. As the Austrian Business Cycle Theory explains, that means a bust is upon us. Savings is an indicator of how much resources are available for production.
When savings/resources get low, production is forced to stop, tools/machinery get sold, and other production begins with the remaining available resources. The longer that nation-states delay the bust, the fewer resources/savings there will be to recover from the bust.
To put this another way, three out of five Americans have no savings to speak of. As the Austrian Business Cycle Theory explains, that means a bust is upon us. Savings is an indicator of how much resources are available for production.
When savings/resources get low, production is forced to stop, tools/machinery get sold, and other production begins with the remaining available resources. The longer that nation-states delay the bust, the fewer resources/savings there will be to recover from the bust.