Saving Money is Bad for the Economy:...(debt-monger lives on)

My Budget 360 ^ | 03/28/09

[TigerLikesRooster]

Saving Money is Bad for the Economy: Personal Savings Rate Higher, Consumption Slightly Up, Banks get new American Express, and Markets Begging for Money.

Posted by mybudget360 in US Dollar, bailout, bankruptcy, banks, budget, credit cards, economy, monetary policy

0 Comments

Last month the savings rate hit the 5 percent mark. That makes two months over 4 percent and for the first time in a decade that Americans have actually saved more than 4 percent for two consecutive months. Saved 4 percent of what? Of their personal income. You would think that most people would be saving a little bit of money but that has not been the case. The average American household does not make as much as the media once portrayed. This fact is hard to reconcile when our eyes see brand new cars and clothes on virtually every person we come into contact. Yet the fact of the matter is the large majority of these people have those new shiny artifacts because of debt. Let us take a look at the savings rate and consumption over the past two decades:

[TigerLikesRooster]

Ping!

[31R1O]

Aren’t you busy this evening. Keep up the good work!

[FreeSouthernAmerican]

But I just have to have that new sports car. It is paramount to my happiness. HAHAHA, there is nothing sporty or new about anything I own.

[jakerobins]

This is the money you could have saved by not voting for Obama and the Democrats....(I always feel like someone is watching me)

[FreedomPoster]

I am *so* going to use that.

[momincombatboots]

LOL... I think I can use this for a TEA party sign!

[Diana in Wisconsin]

Other than for food and shelter and gas for the car, all I’ve spent in a very long time is about $50 for garden-related things to produce my own food this season. Needed a new sprayer for my orchard which was the bulk of it.

Sorry if I’m letting anyone down, but as far as I’m concerned, until this clown is out of office, it’s everyone for themselves and I will ‘starve the beast’ as much as I can.

I know I’m not the only ‘producer’ in America that feels this way. :)

[AndyJackson]

money makes the world go around and i suppose thats BHO’s thinking playing robin Hood, except it will bite him in the butt because the rich are being penalized for working hard! we are rewarding the wrong behavior

You are full of HS. We are robbing from the poor and middle class to give to the bankers who got us into this mess. I don't care how hard you think the crooks with Harvard degrees worked. They were idiots doing all the to get us into this bind that they should have known would work because they have worked in causing every other financial crisis known to man.

[Strutt9]

Love it.... Can I use it?

[dennisw]

You are full of HS. We are robbing from the poor and middle class to give to the bankers who got us into this mess. I don't care how hard you think the crooks with Harvard degrees worked. They were idiots doing all the to get us into this bind that they should have known would work because they have worked in causing every other financial crisis known to man.

I do something stupid and I lose money
Ivy league Wall Street geniuses do stupid sh!t and they get rich taking home billions in bonuses

Of course they were not stoooopid. We are stupid for bailing out the companies they work for

[jakerobins]

Go for it.....LOL