Nelson, you've made a reasonable assertion, but not yet made a compelling case. The American
consumer is the engine of global trade. Asians save 35 to 50 percent of their income. Americans
save 5%. Americans need to save more. Asians need to spend more. If Americans pull in their
spending horns prematurely though, societies around the globe will suffer, including our own.
I drive my car 8000 miles annually. You drive 15,000 miles annually. It should therefore not be
regarded as wasteful if I chose a larger, less efficient car and trade more often because I make
up for the inefficiency by being more efficient in using the car sparingly.