U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 10-22-2008, 07:20 AM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,475 posts, read 13,840,987 times
Reputation: 6359

Advertisements

Evidently, according to Bloomberg.
Bloomberg.com: Exclusive

All the newly responsible people are KILLING AMERICA...WHY DO THEY HATE AMERICA? WHY?

Real Time Economics : Should Bush Tell America To Go Shopping Again?
Reply With Quote Quick reply to this message

 
Old 10-22-2008, 07:24 AM
 
Location: Some place very cold
5,500 posts, read 20,074,778 times
Reputation: 4220
Yes, that's what starts to happen.

On the one hand the interest from debt diverts all the money from the economy. And now people are scared, so they are starting to save money, and that also diverts money out of the economy. So you see a much bigger slow down.

In the past, the U.S. got out of a recession by going into another bubble to generate more spending. But now that's no longer possible. The game is up. The system is overloaded with debt. You can prop it up for a while, but this sucker is going down, folks.
Reply With Quote Quick reply to this message
 
Old 10-22-2008, 07:57 AM
 
48,516 posts, read 83,978,960 times
Reputation: 18050
Well they are just reacting as they shopuld. Actually many are saving because the dollar is making a rebound with europe and others having problem. many predict that many other currencies will drop compared to teh dollar into 20099 at least.No0t a bad time to save really and americans need to star doing it as a practice. But then again many are so upside down on mortgages and credit card debt that they really can't.But i9f there ius anothyer bubble there also will be investors that will make a mint offf it like the tech bullbe and then the housing bubble. At some point housoing wqill recover but hte easy mopnay days are gone.
Reply With Quote Quick reply to this message
 
Old 10-22-2008, 07:57 AM
 
Location: western East Roman Empire
6,628 posts, read 10,684,371 times
Reputation: 5779
Quote:
Originally Posted by Woof Woof Woof! View Post

... save money ... generate more spending
Both consumption and investment are spending. By definition, investment is possible through saving, the saving has to come from somewhere.

Was the tech bubble that bad? To be sure there were excesses, but this very forum is the result of tech investment in the 1980s-1990s, we are still enjoying the fruits.

Consumption bubbles, on the other hand, are much more reckless.

Spend, sure. But first save, then spend on real investment, not consumption and pyramid schemes, even if there are excesses there is also real fruit.

Good luck!
Reply With Quote Quick reply to this message
 
Old 10-22-2008, 07:57 AM
 
Location: Charleston, SC
5,615 posts, read 12,839,204 times
Reputation: 2534
Proud to have been part of the problem (saving) for years.

But I'll be glad to help everyone out if I can get a nice deal on new living room furniture. That, and wood flooring for a couple of rooms in my house. I've been saving up for that this fall and have enough now.
Reply With Quote Quick reply to this message
 
Old 10-22-2008, 08:39 AM
 
Location: Some place very cold
5,500 posts, read 20,074,778 times
Reputation: 4220
Believe me, I'm going to save for the rest of my life. I never want to pay another dollar in interest to all these fool banks again. I hate them.
Reply With Quote Quick reply to this message
 
Old 10-22-2008, 10:01 AM
 
Location: Windsor, Vero Beach, FL
897 posts, read 2,574,279 times
Reputation: 474
What about those of us that have been savings for years. ?
Reply With Quote Quick reply to this message
 
Old 10-22-2008, 10:12 AM
 
Location: Some place very cold
5,500 posts, read 20,074,778 times
Reputation: 4220
Quote:
Originally Posted by GeminiGal View Post
What about those of us that have been savings for years. ?
Well, you're in good shape!

As long as your assets hold up, that is.
Reply With Quote Quick reply to this message
 
Old 10-22-2008, 10:31 AM
 
Location: Londonderry, NH
41,492 posts, read 51,406,502 times
Reputation: 24613
For way too many folks savings came after survival considering the inflation in food and fuel prices over the last few years.

Saving before spending is a really radical idea. I wonder who thought of that?

Last edited by GregW; 10-22-2008 at 10:48 AM.. Reason: spelling
Reply With Quote Quick reply to this message
 
Old 10-22-2008, 10:34 AM
 
24,843 posts, read 32,414,930 times
Reputation: 11453
Quote:
Originally Posted by Woof Woof Woof! View Post
Believe me, I'm going to save for the rest of my life. I never want to pay another dollar in interest to all these fool banks again. I hate them.
There are ways of spending and not paying interest. Buy what you can pay for. I have to use a credit card for business needs however, I pay it off each month.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Follow City-Data.com founder on our Forum or

All times are GMT -6. The time now is 03:18 PM.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top