[quote=briansd1]
But it’s good for society to spend for the general well-being of the population, to spur and encourage investments and innovation.
[/quote]

Why it has to be consumption? Why saving money is not helping the economy? Unless you put your money under the mattress, where do you think the community bank got its core capital allows it to lend and stimulate the economy?

The US has under-saving issue that forces it to have the trade deficit, while China has over-saving issue that forces it to have the trade surplus. Therefore, China helps to lower our treasury rates and in return makes it more attractive to have debt and less saving, and the vicious cycle goes on and on until it is completely unsustainable.