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A comment on India has a hole where its middle class should be. Parent comment

Re:India has a hole where its middle class should be by dmoy on Saturday January 13, 2018 @01:22PM (#16140530)
Possibly, though India's savings rate is also >30%, whereas the US's savings rate is ~5%. Median American family retires with like less than one year of income saved up...

Much harder to throw money at luxuries when you're saving a lot.

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Re:India has a hole where its middle class should be by vsundar on Saturday January 13, 2018 @03:46PM (#16141297)
> Much harder to throw money at luxuries when you're saving a lot.

I think this misses the larger point that Indians overall don't have that much money in hand to spend on luxuries.

I believe GNI per capita ppp [1] is the right comparison. (someone please correct if I'm wrong.) For india thats ~ $6K whereas for the US its ~ $57.5K, almost 10 times. (Also while the savings rate is more, the actual amount saved looks greater for the US.)

I think the parent is right, grand parent just proves the point of the article.

[1] https://en.wikipedia.org/wiki/List_of_countries_by_GNI_(PPP)...

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Re:India has a hole where its middle class should be by xbmcuser on Friday January 19, 2018 @09:45PM (#16191764)
American problem is credit they spent too much of what they don't have to live beyond their means and spend the rest of the life paying it off so do not have savings. The 25% extra that indians are saving is the 25% that american are using to pay for their education, healthcare and car loans etc.
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