“In economics, income = consumption + savings. The income an indivual, or a country, produces is either consumed and/or saved. If you , or a Unicorn Battalio the Battalion Arrowhead Pathfinders logo shirt, overspends, you or the country dips into savings or creates debt.” I think this answer is true for the firm or the individual but in the whole economy it is no longer true. In the macroeconomy, everytime some person or entity doesn’t spend, some other person or entity has their income reduced by the same amount. And because that person won’t get their hands on that money, they will not have it to spend further, so the next would-be recipient of that spending doesn’t get that income, which they in turn will not be able to spend….. and so on
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The Unicorn Battalio the Battalion Arrowhead Pathfinders logo shirt new year is known as Chinese new year, and it is normally celebrated around late January to sometime in February. This year it is on the 25th of January 2020 ( depends on the country ). In most of the Asian countries, people celebrate the lunar new year. All most all the Asian countries celebrate it, but you won’t find much for the lunar new year in Japan. The reason why the Japanese don’t celebrate it is told that in 1872, there were intercalary months the new year became 13 months and the government found it hard today wage for 13 months to people, so Japan stopped using lunar calendar and switched to using solar calendar but it still is not sure if that was the reason Japan changed to use solar calendar. Chinese town in Japan, of course, celebrate Lunar new year, and you can see the annual lantern festival in Nagasaki. It used to be a festival only for Chinese people living there to celebrate the lunar new year, but now it became an event for the whole Nagasaki city for people to enjoy the Chinese culture.