Posted on 09/15/2007 2:24:18 PM PDT by AuntB
The new numbers on consumer confidence are out. They show American consumers very confident that the economy is going down the tubes.
Over in Asia and Europe, stocks plunged on fears that Americans may no longer be able to find the second jobs and recklessly borrow the money needed to buy imported stuff. Economists now freely use the "recession" word following the report that American payrolls fell in August, the first monthly decline in four years.
American consumers, in other words, are all dried up. And the discussion has begun on what kind of baloney economy kept them lubricated for so long.......
Of course, some professions thrive in tough economic times. Business should be brisk for bankruptcy lawyers. And we will need auctioneers to help unload foreclosed properties........
Today's "partying," he said, would lead to tomorrow's "hangover."
So here we are: The partygoers have downed a bottle and still they can avoid a hangover.
A recent article on the Motley Fool's British Web site offered "Five Ways to Prepare for a Recession." The prescriptions: Don't make big luxury purchases you can't pay for with cash. Build an emergency fund. Live more frugally. Reduce your debt. Find more work.
All sound advice, but consumers had better act fast — like five years ago.
(Excerpt) Read more at seattletimes.nwsource.com ...
Here’s the quote from the article I posted from the census bureau:
More than half (50.3 percent) of U.S. households — nearly 57 million — owned stocks and mutual funds in 2005
HOUSEHOLDS ... HOUSEHOLDS
Or do you wants infants and children to be counted as investors????
Read 81
No argument from me there.
I never labeled you a Liberal ... I labeled Froma Harrop a Liberal which she aedmittedly is.
Why would you be on this site if you were?
But I wonder why you are promoting a Liberal’s ideas.
Many are using credit cards to pay bills. Be interesting to see where this all leads.
Not really all that interesting. It leads to a recession. Unemployment rates rising, real estate prices falling, and everyone pointing fingers of self-righteous indignation.
Sorry to hear that, hope you find something soon. Not to be overly inquisitive or personal but was the loss due, either directly or indirectly, to outsourcing?
Hope you don't mind this being repeated.
I’m talking adults. You’re talking households. So what? You’re beating this stupid thing to death and NOT proving your point.
How ‘bout this. The figures may have changed slightly since.
The top ten percent of the U.S. population owns 81.8 percent of the real estate, 81.2 percent of the stock, and 88 percent of the bonds. (Federal Reserve Bank data in Left Business Observer, No. 72, Apr. 3, 1996, p. 5)
http://www.endgame.org/primer-wealth.html
Bottom line, Bunny, there are way too many dependant, and not near as many doing well or saving as you’d like to say.
I’m sorry you have nothing better to do than pick at posters and still not prove anything. Done with ya.
Even by your own posting of the census of the US you must see that as a somewhat valid source. My link to the census shows that 50.3% of American HOUSEHOLDS invest in mutual funds. Not bad as that does not include OTHER types of investments of which there are many.
I, too, am getting tired of paying for others but Americans saving is not as bleak you you and Ms. Harrop suggest. This is an old ploy by the left to get us to have social programs to provide for all those people who are not taking care of themselves.
I’m not buying it.
Whose fault is that, Bush's? The biggest fault of our socialist school system is their neglect in teaching todays youths the workings of financial planning. It should be mandatory starting with 7th grade. By the time they graduate they should have working knowledge of all the investment programs available and how to manage their respective incomes.
Beginning with the very first job anyone ever acquires, 15% of their earnings should go into a viable investment program, if they never see the money they will never miss it. By the time they are 50 years old they could conceivably retire............If they work till 60, they will never need social security.
If I had all the money I paid into social security in my own investment program, I would at least double what your government is going to pay to me 5 years from now....../.
MORE:
One percent of the U.S. population owns sixty percent of the stock and forty percent of the total wealth. (Hawken, Paul, The Ecology of Commerce: A Declaration of Sustainability. New York: HarperBusiness, 1993).
The top one percent of U.S. households owned 42 percent of all stock in 1997...
The top ten percent of households owned 82 percent of all stock-market wealth...
Only 27 percent of households held more than $10,000 in stock in 1997...
57 percent of Americans didn’t own any stock at all...
http://www.endgame.org/primer-wealth.html
We also over time learn from our mistakes in spending. Would have been great if I had come out of an educational system that taught me something before the age of 20. Some never learn being it easier to point the blame to anyone or anything, but themselves.
Aunt B or those he or she is speaking for might want to attend a Dave Ramsey financial Peace University class.. or just use common sense...(chuckles).
If my sky should fall I could find jobs anywhere doing anything..in fact have you ever thought that some jobs people won’t take or feel it is beneath them to do look sorta-kinda fun? Push came to shove, I would still survive, not look back and maintain a positive outlook for the future. I have conquered the Demon of Wants over what I considered were my needs.
So a husband and wife with 4 children must ALL invest?
I have proved my point.
LoL! You are going to use the very fact that the credit bubble is bursting to help improve your position. If housing goes down enough to make your purchase somewhat sane (like 50% around here in Northern VA), then the economy will be finished. If you buy at insane prices instead, then you are counting on the credit bubble continuing which will be followed inevitably by hyperinflation or deflation. Take your pick and enjoy your new property taxes!
When does the Democrats’ new minimum wage go into effect?
Thank you. If only Americans were taught about the fundamentals of investing in school ... and in providing for oneself!
It’s why I’m a Conservative. And you as well, I suppose. :)
NO income. NO job. Say you broke your back. Boom. No income. Not an on the job injury. It could take 5 years easily to get an approval for disability. How long would you be able to make your payments, etc?
“The Party’s Over for American Consumers”
Party? Was there a party? I didn’t know there was a party.
Enough of us, HOW LONG COULD YOU support your family with no income and why would you not have an income?
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