Won’t the economy rebound when we get some confidence and start spending money?
Posted by admin in Finance Wednesday, 17 November 2010 12:19 6 Comments
WE are killing ourselves by pushing back. In the last 4 months I have purchased a new car, new oven, new washer and dryer and new water heater. Because now is the time to buy. Refinance your homes. Start a new business that fills a need. Go back to school and learn a new specialty. Take advantage of the opportunities in the weakening economy and we all will benefit.
It’s not that easy man… unfortunately. The “big money” is what ruined the economy and it’s that same big money that will fix it. Do you, realistically thinking, know how many americans like you and I would have to go out and spend, spend, spend to equal the amount that just one bank like Citigroup or Bank of America throws around every day? A whole lot of us. and many of us aren’t in your spot, some have lost jobs (400,000 lost last month alone) so they’d be foolish to spend their money.
SO, I agree with you that, people who are employed should get out there and buy some american made goods and services, but disagree that everyone spending their money will dig us out of this recession.
The other thing is; many Americans just don’t understand enough of what’s going on, how the stock markets work, how the bailout works, etc. SO they pull the old “ostrich manuever” and just bury their heads in the sand and are too afraid to go out and negotiate a 4.99% Fixed APR for their mortgage, or bargain with a store for a new flat panel TV…. they just bank their money because they assume that we are heading for “another great depression”. I see this alot especially with older (65+) folks.
I agree about the going back to school… certain professions are booming right now. I went to college for pre-med and took a few courses with nursing students. SOme of them were 35 or 40 years old, and were going back for a nursing degree because it’s a hot job right now. They were smart.
Carry On Consuming?
That is going to solve economic problems?
When we need to stop “over-borrowing” (i.e. living for today, not thinking about tomorrow – cos tomorrow never comes)?
Can’t you see-through ll the holes in that?
That obviously wont work.
What we need are NEW-STYLE PRODUCTS
so we survive climate change -
that will guarantee long-life & sustainability, and prosperity for all.
This economy is a combination of several things–people defaulting on their credit, banks giving out home loans to people they knew couldn’t afford to maintain a mortgage, and car manufacturers continuing to bow down to union demands when they knew they could not afford to do so. And God forbid that the unions should ever concede that they have milked the cow dry.
Our government is throwing money at the problem without even demanding oversight of how the money is spent. Now that companies know the government will give them money for failing, suddenly, everyone has their hands out. They are giving their corporate executies millions in severance packages from the bailout money, while the regular workers get laid off. It is obscene.
I think our economy is failing because we are a lot of greedy twits who don’t know how to budget.
I just took advantage of someones misfortune. Bought a second home in Florida, cash!
You can buy stuff and take advantage of the current economic situation, if you can afford them, not on credit. If you are jobless with little savings, now is probably not the best time to indulge yourself for the sake of improving economy.
It will if that happens, and it will rebound if people buy, because prices are lower. however many people don’t have money, because of job losses. So Obama has to develop employment programs, as well as increase unemployment insurance payments. I expect he will do so.