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Old 01-13-2018, 07:35 PM
 
Location: Aurora Denveralis
3,078 posts, read 1,040,161 times
Reputation: 3930

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Quote:
Originally Posted by TuborgP View Post
In the absence of debt many Americans could increase both savings and spending.
Um, and if frogs had wings, they wouldn't bump their ass a-hoppin'. (Sorry, I love that line.)

Most US families cannot afford their desired lifestyle at their sustained income and thus tend to live much of their lives in debt - often increasing debt. (Having high credit card limits and ready access to loans is a status symbol, fer cow's sakes.) Shifting the pile around so they magically don't have debt doesn't really give them more to spend or save - only by looking at the cost of the debt is there any net change.

The real solution is for a majority to stop falling for aggressively fostered consumption and quit spending. Let the economy adjust to that.
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Old 01-14-2018, 08:17 AM
 
5,603 posts, read 4,212,886 times
Reputation: 10562
Quote:
Originally Posted by Ro2113 View Post
These companies wouldn't dump millions and billions into marketing and advertising if it didn't work.
Sure we are all influenced. When it comes time to buy we think of the brands we know about. That does not change my premise. Those without a lick of sense will constantly go out and spend the maximum and often run up credit card debt to buy more. Those with a lick of sense will try to save and will control their impulse buying.
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Old 01-14-2018, 10:25 AM
 
Location: Aurora Denveralis
3,078 posts, read 1,040,161 times
Reputation: 3930
Quote:
Originally Posted by jrkliny View Post
Those without a lick of sense will constantly go out and spend the maximum and often run up credit card debt to buy more. Those with a lick of sense will try to save and will control their impulse buying.
Is that from Leviticus, or Corinthians 2?
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Old 01-14-2018, 02:05 PM
 
Location: Paranoid State
12,685 posts, read 9,447,497 times
Reputation: 14953
Quote:
Originally Posted by 1insider View Post
Some of us got here on good looks and charm.
If only God made me lucky instead of so darn good looking. Women are constantly hitting on me. It's a curse, I tell you. A curse.
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Old 01-15-2018, 08:10 AM
 
29,464 posts, read 33,723,940 times
Reputation: 11093
Quote:
Originally Posted by Quietude View Post
Um, and if frogs had wings, they wouldn't bump their ass a-hoppin'. (Sorry, I love that line.)

Most US families cannot afford their desired lifestyle at their sustained income and thus tend to live much of their lives in debt - often increasing debt. (Having high credit card limits and ready access to loans is a status symbol, fer cow's sakes.) Shifting the pile around so they magically don't have debt doesn't really give them more to spend or save - only by looking at the cost of the debt is there any net change.

The real solution is for a majority to stop falling for aggressively fostered consumption and quit spending. Let the economy adjust to that.
So you agreed with my statement.
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Old 01-15-2018, 11:31 AM
 
Location: Aurora Denveralis
3,078 posts, read 1,040,161 times
Reputation: 3930
Quote:
Originally Posted by TuborgP View Post
So you agreed with my statement.
Right words, incomplete thought. Simply wishing away consumer debt is not a solution; simply removing debt from the equation is not any real solution.

We need to obliterate the forces that push people - often against their best intentions and will - to spend every dime they make, and then good fractions of what they someday hope to make. Until we do that, it's all rearranging deck chairs on the Titanic.
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Old 01-15-2018, 06:00 PM
 
2,360 posts, read 1,031,855 times
Reputation: 2071
Quote:
Originally Posted by Quietude View Post
We've lived with high consumer debt for a long time. It's what our economy is built on - and that's the problem.

Most economists see no way for consumer spending to drop 5-10% (which includes that amount going into savings) and sustain the current economic model. That's the reason personal savings have a lot of cheerleaders but no real proponents or supporters.

It is not 1950, 1990 or any year in between any more. We're thirty years of economic change past that point, and it's really time for everyone from Hahvahd econ majors to barstool pundits to our dear leader to realize that the first half of that was an anomalous era that's not coming back.
YEP! and they thrive on our debt so they can force us to work more to pay it off. If it gets paid off. With interest so high, its nearly impossible to do that. If a bank would actually put interest on savings, then it be lot easier to save. But right now banks interest rates are the lowest they have been in decades from what i been reading. My capital one savings is at 1% when it needs to be 10% if they really want people to start saving.
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Old 01-15-2018, 06:41 PM
 
Location: Ruidoso, NM
5,170 posts, read 4,738,304 times
Reputation: 4206
Quote:
Originally Posted by whogo View Post
Do not put me in that 99%
You unwittingly took about ~50% pay cut for this "bonus". Was it a good deal?
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Old 01-16-2018, 09:07 AM
 
8,298 posts, read 3,461,858 times
Reputation: 1588
Quote:
Originally Posted by rruff View Post
You unwittingly took about ~50% pay cut for this "bonus". Was it a good deal?
Depends on wealth accumulated and lifestyle.
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Old 01-16-2018, 09:09 AM
 
2,360 posts, read 1,031,855 times
Reputation: 2071
Just need the %1 to start spending more.. and i dont mean on more protection in banks, or spending it on a 20th summer home.
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