I have read so many different personal finance blogs, and left quite a few comments because I find it really interesting to have dialogue with others that share my interest in personal finance. In an attempt to create more dialogue, I thought I’d post questions once in awhile for everyone to answer by leaving comments. I’m hoping to find that the most interesting items to read will be in the comments that everyone leaves. So here it goes. I hope you’ll offer your input:
You’ve all heard it before. “Everyone should save 10% of their income”. Here’s the question:
What would happen if all of a sudden, starting tomorrow, every single wage earner in America saved 10% of their income?
What would happen to the economy?
What would happen to different industries over time?
What would happen to people?