Posted on 07/17/2010 1:37:07 PM PDT by mick
In America, it seems perception is everything. Amid our economic turmoil, it may seem egregious to say that our standard-of-living has continued to rise, but that is exactly what has been happening. Through pretending and borrowing, we have continued to live in a land of make-believe where we can always afford to live a little better, despite any real basis for this assumption.
(Excerpt) Read more at economyincrisis.org ...
One guy said this AM that the only good thing about what’s going on is that Americans are getting out of debt.
One way or the other.
Americans may be getting out of debt, but sadly America is getting more into debt. Ultimately, it’s we Americans who hold the bag.
I think the premise of the first paragraph is flawed enough to ignore the author.
We only owe our house note and a car note both are very manageable no cc dept. We are not living as if tomorrow will never come
I agree, I couldn’t get past it.
Blame America first.
How bout blaming liberal Socialist Democrats...
It is nuts that people use credit cards to maintain their lifestyle. Wjy put off doom by making it worse by maxing out credit cards. If you don’t have cash you can’t afford it, period.
Wjy=why
you say, I am rich, and increased with goods, and have need of nothing; and know not that you are wretched, and miserable, and poor, and blind, and naked. Revelation 3:17.
The Civilization Bubble is getting ready to burst too I think
And we vote.
There is absolutely no chance whatsoever that our external debt will ever be paid.
There is no power on earth who can compel it, and our children and grandchildren will not permit a government to hold office that will do what is necessary to pay the debt.
We owe one mortgage and if we had to we could break even with selling it for $30,000. It is a much nicer house than that so not worried too much. I o use a credit card but a check wrote from the savings could cover the whole balance if need be. We own the house we are living in and also outright own 7.52 acres. Once the house with mortgage is sold we will have zero debt.
Standard of living?
Some people have everything they need in the simple basics of health and security for their families, and are happy and “quiet in their minds;” and some folks aren’t happy unless they have every new and exciting and expensive jim-crack the world can think up. And even then, they aren’t happy. Insatiable is a good word for those poor suckers.
I think standard of living is more about the inside of your head, and much less about conspicuous consumption.
Cell phones with data plan, flat screen TVs, broadband internet... all Rights.
We just have to take more from other people and the standard can continue to increase for a while.
Getting out of debt?
Are you kidding? Have you seen the deficit figures lately? As far as meaning personal debt, then where is all that massive debt going?
Fewer and fewer people are working, they are walking away from their home loans without paying a dime and bankruptcy’s are at an all time historical high.
So Americans are literally walking away from their debt’s without paying them and this is seen as; They are simply “getting out of debt.”
With logic like this, no wonder this country is in the shape it is in. (Please don’t take this as an attack on you personally. I’m simply astounded at the way you put it.)
Here is what gets me.
I know people in 4000 sq foot houses that cant afford to run the AC in summer.
Nice I just wish we did not live in the ghetto here in So Cal
It has already a baboon is in the whitehouse
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