And in the mean time, personal savings absolutely plummeted.

Remainder

What we're seeing is an uptake in the savings rate.

It's not just numbers on a piece of paper.

Afterwards, we have about a dozen or so binary rules.

He's given a control that allows him to adjust his savings rate.

This is something I call the 50 20 paradox.

What's this building?

And what I'm going to talk about today is Save More Tomorrow.

So we're starting to pay for things with money that we have.

So this is a timely problem.

Either stolen or war surplus.

It's not even sustainable economically.

And slowly, slowly we're bringing it up to a moderate savings rate.

Energy is all around us, but we don't mean the current coming from the socket in your wall.

They decide what to do.

This can is from a surplus disposal run.

Holding down the right flank of the OECD, all the way on the other side, is Greece.

Cannot calculate the remainder on 0.

That is the resource that I'm talking about.

There was nothing to buy, unless you wanted to buy some rivets. Right?

Because I kind of view that as a reference point.

Until we get to this point right here, where everything starts blowing up.

Let me just put it into my mattress.

Well, think about smoking, for example.

I still have some money saved! I'm prepared for hard times.

Then Bob selects his private random number, say 13, and calculates

Keep something for a rainy day.

You'd rent a smaller home.

Where maybe I saved 5, but someone else borrowed 5.

I know my law. DEVLlN

In an emergency you can fall back on your savings.

Put by money for the future.

Do you know what this was right here?

I don't dividend it out to the shareholders. I just keep that.

And a significant minority of those 500 million people

Old war surplus that he bought on his veteran training.

In an emergency you can fall back on your savings.

It should be noted, of course, that the United States and the U.K. are the next in line.

Now even after all of this granular level of control, do futureless language speakers seem to save more?

Now I'm going to describe to you a study I did with Gur Huberman, Emir Kamenica, Wei Jang where we looked at the retirement savings decisions of nearly a million Americans from about 650 plans all in the U.S.

It will pay you to save a part of your salary each month.

But the remainder is savings.

Pulling money out of the house as fast as they could, putting money on credit cards as fast as they could.

But there's another group of people who were more than offsetting that by taking credit.