Time to Spend? Time to Save? There is no easy answer
#1 Mar 3, 2009
Obama's stimulus package is a $13 dollar credit here, a $400 dollar credit there, and a hard to understand if you even get it proposition from the get go. Obama is an empty suit and will absolutely not deliver us from these hard times. In fact, his hubris makes him dangerous, as he will make ignorant, uninformed decisions based on his perception that he is omnipotent. This may sound silly, but give it a few months; this will become more obvious as the months go by. Obama will go down as the biggest mistake america ever made...period.
#2 Mar 3, 2009
If you happen to live in California there will be new taxes kicking in soon. So some of the savings will be gone. If you appropriate money for retirement and children college education, you will need to borrow to spend. And where you gonna borrow from? And most importantly who is going to pay your bills after the borrowing? The best thing for this country is to save, save and save. And only then buy.
#3 Mar 4, 2009
The 'reasonable spenders' are hanging on to what they have.
It's the 'irresponsible' spenders who got us into this mess, by over borrowing above their means...
That, is why we are in this mess.
#4 Mar 4, 2009
The "credit and interest rate" based economy of the last 15 years is gone for good.
Gone are the days of people buying $100 jeans,$200 sneakers, and expensive (to own and operate) cell phones.
Gone are the days of people buying expensive new cars every 3-4 years.
Gone are the days of people buying $4K worth of rims and tires for their cars.
Gone are the days of people buying 300, 400, and $500K houses with no or low down payments, no or low paying jobs, bad credit, and (in far too many cases) no S.S. numbers.
And gone too are the days of people using 10-20 different credit cards in order to pay for the above.
Of course, the entity (our government) that helped create this mess (with the aid of greedy, unqualified, and irresponsible spenders) now wants you to spend.
However, the real question here is whether the government wants responsible people to spend irresponsibly or irresponsible people to spend responsibly...
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