How much of this economy is citizens shedding their spending habits and credit cards?
Posted by admin in Finance Saturday, 20 November 2010 21:08 9 Comments
If we are not buying, the economy is not growing. That is why Bush told us to go shopping after 911.
I’m doing my part. I haven’t had to cut back on much at all. except luxury items I don’t need anyway, but that’s a good thing.
keep in mind luxury items to me involve cds, games, and manga. not the typical “luxuries” rich people have.
Yes, they are doing that because of Obama’s economic policies though.
Of course thats what a slow down is. They try to tell us its a bad thing but it’s also called a ‘price correction’ for a reason.
Unfortunately, the federal reserve is creating inflation (via low interest rates) in order to force us to spend more by driving up prices (the exact opposite of what we are trying to do). What the people want is lower prices because wages and employment are down, but the government and the fed, fueled by the powerful elite, are fighting us every step of the way. This is a tug of war.
If they win, we get higher prices, and a lower standard of living.
the usa economy IS consumers. no shopping = no usa economy
the usa does not produce anything – no cars, computers, tv’s, bikes… nothing
unless you count porn
That is capitalism….buying what we dont need…..shop till you drop.
Ironically, they tell us to worry about the environment while our economies exploit the natural resources of the earth !!!
People spending money they didn’t have is in fact how we got into this problem.
It’s about time.
After thirty years of being butt shagged by the likes of Visa, MasterCard, Wells Fargo and even some store charge cards, I am happy to declare that I don’t spend money on much, and I definitely don’t use charge or credit cards. I encourage All Americans to cut those cards into tiny pieces and mail them to the company that sent them to you. Not only have these big banks cost us gobs of money in interest, late fees, membership fees, they have also cost the taxpayers billions of dollars because they (the banks) are nothing but a bunch of American Scammers who should be forced OUT OF BUSINESS and their owners and employees locked up in the nastiest prison in the country !!!!!!!!!!!!!!!!!!!!!!!!!
Again with the ‘growth’? Growth does not matter – It only matters because we pretend it does, we believe it does, and we manufacture our dependence on it. Be that as it may, which came first, the chicken or the egg? I assure you the majority of trimmed down spending habits and abandonment of credit have absolutely nothing to do with any habit. It is all externally imposed despite any desire or intent to the contrary and regardless of how anybody feels about it. The previous spending and glut of credit were no less externally imposed. We borrowed then because if we didn’t we would die, we don’t borrow now because we can’t and consequently, we will die. We will not ‘stimulate’ the economy by buying just because someone insists we have incentive to buy. This economy compels everything we do, we compel nothing. We do not spend or borrow now because the economy compels us to die instead. We will spend and borrow again when next the economy compels us to spend and borrow again.
Yes that is part of the crisis and economists have stated… when monies freeze, consumer spending freezes, business lay off, workers stop spending out of fear or loss of their job, etc… it’s a downward cycle. That is why it was necessary, just as in the Great Depression, for the Govt to step in and start to spend.