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Old 06-26-2009, 07:16 AM
 
5,165 posts, read 5,308,734 times
Reputation: 1067

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Contrary to what Barney Frank believes This is a good bit of news:

Economists believe that a rise in personal savings rate is a good development in the long run, but they worry that it could make the rebound from the recession slower than it otherwise would have been.
http://finance.yahoo.com/news/May-incomes-surge-but-savings-apf-2698325410.html?x=0&sec=topStories&pos=main&asset= &ccode=

It is about time people start practicing better finanical behaviors.

The run for everyone to max out their credit was a dismal sign of the materialistic and greedy society we had become.
Now its time for some humble pie.
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Old 06-26-2009, 07:25 AM
 
Location: Houston, Texas
1,668 posts, read 4,149,031 times
Reputation: 3028
Quote:
Originally Posted by momonkey View Post
"A new Rasmussen Reports national telephone survey finds that 39% of voters now say the country’s economic problems are caused more by the policies Obama has put in place.
Looks like the honeymoon is officially over.

Only 39% of us are mad???? He's spending money left & right(money that we DON'T have). He's getting all this cash from China and we have no way to pay them back. Thanks Obama.
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Old 06-26-2009, 07:34 AM
 
Location: Great State of Texas
86,093 posts, read 72,297,737 times
Reputation: 27564
Quote:
Originally Posted by LizzySWW View Post
He's getting all this cash from China and we have no way to pay them back. Thanks Obama.
lol..China has been cutting back on Treasury purchases. He's getting all this money from the Fed now since they are stepping in to cover what foreign countries aren't buying anymore.
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Old 06-26-2009, 07:36 AM
 
Location: Great State of Texas
86,093 posts, read 72,297,737 times
Reputation: 27564
Quote:
Originally Posted by cleanhouse View Post
Contrary to what Barney Frank believes This is a good bit of news:

Economists believe that a rise in personal savings rate is a good development in the long run, but they worry that it could make the rebound from the recession slower than it otherwise would have been.
http://finance.yahoo.com/news/May-incomes-surge-but-savings-apf-2698325410.html?x=0&sec=topStories&pos=main&asset= &ccode=

It is about time people start practicing better finanical behaviors.

The run for everyone to max out their credit was a dismal sign of the materialistic and greedy society we had become.
Now its time for some humble pie.
While that is good for us as citizens (saving and living sensibly) it is not good for the US economy who now depends on spending and debt since we are not a producer nation anymore.

The two are in contention with each other and the government is doing all they can to entice the "savers" to go back to being "spenders".
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Old 06-26-2009, 07:41 AM
 
2,229 posts, read 1,368,912 times
Reputation: 623
Quote:
Originally Posted by cleanhouse View Post
Contrary to what Barney Frank believes This is a good bit of news:

Economists believe that a rise in personal savings rate is a good development in the long run, but they worry that it could make the rebound from the recession slower than it otherwise would have been.
http://finance.yahoo.com/news/May-incomes-surge-but-savings-apf-2698325410.html?x=0&sec=topStories&pos=main&asset= &ccode=

It is about time people start practicing better finanical behaviors.

The run for everyone to max out their credit was a dismal sign of the materialistic and greedy society we had become.
Now its time for some humble pie.
Money in savings is about the worst investment you can make next to buying a brand new yacht. People are saving in banks with 2.9% APY because they are scared they may need some backup, not because they are more money savvy.
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Old 06-26-2009, 07:43 AM
 
5,165 posts, read 5,308,734 times
Reputation: 1067
Quote:
Originally Posted by jcarlilesiu View Post
Money in savings is about the worst investment you can make next to buying a brand new yacht. People are saving in banks with 2.9% APY because they are scared they may need some backup, not because they are more money savvy.
Every family should have a liquid cash reserve. Money in a typical bank savings account will keep pace with inflation. After the cash reserve is built then investing in other instruments should take place.
But first the liquid cash reserve should be established.
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Old 06-26-2009, 08:08 AM
 
Location: LEAVING CD
22,952 posts, read 22,455,928 times
Reputation: 15488
Quote:
Originally Posted by odanny View Post
46% of the country voted McCain/Palin, so it doesnt surprise me that Obama is being blamed for 8 years of neocon misrule
I don't blame Obama for the last 8 years but I do blame congress. While Obama isn't to blame for the last 8 years he (and congress) are totally responsible for what's happened since last November (remember he's had the most active executive order pen) and is doing nothing but driving us deeper at this point. He could have stopped much of this the moment he took office but chose to continue the spending activities of 2008 and then add to them.

When will his supporters finally wake up and admit that while he "may" have good intentions he's made/making some serious mistakes as well?
And y'all talk about "neocons" walking in lock step...
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Old 06-26-2009, 08:16 AM
 
Location: Oxygen Ln. AZ
9,321 posts, read 16,540,933 times
Reputation: 5692
I recall some very good and prosperous years under Bush. Took longer than his 8 year term to drive this car over a cliff and it started in 1992 with Freddie and Fannie giving loans to people who could not make the payments on. And now, golly gee, Barney is suggesting that we repeat the insanity. Obama owns this now, sorry to say because it is obvious that his stimulating has done little or nothing other than some road works here and there to fix this mess. He has spent far more than any other administration even Bushie.
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Old 06-26-2009, 08:26 AM
 
5,165 posts, read 5,308,734 times
Reputation: 1067
Quote:
Originally Posted by MotleyCrew View Post
I recall some very good and prosperous years under Bush. Took longer than his 8 year term to drive this car over a cliff and it started in 1992 with Freddie and Fannie giving loans to people who could not make the payments on. And now, golly gee, Barney is suggesting that we repeat the insanity. Obama owns this now, sorry to say because it is obvious that his stimulating has done little or nothing other than some road works here and there to fix this mess. He has spent far more than any other administration even Bushie.
Barry is already hinting at ANOTHER "stimulus". It is absolutely tragic if this happens. Guess the First trillion taxpayer dollars did not work so Lets try it again. -- Now I am going to vomit.

Obama Says Second Fiscal Stimulus Bill Not Yet Needed (Update2) - Bloomberg.com
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Old 06-26-2009, 08:59 AM
 
1,905 posts, read 2,174,428 times
Reputation: 543
Quote:
Originally Posted by Stac2007 View Post
I don't blame Obama for the economic crisis we are in. It was building for a while. What I blame him for is the way he is pushing the nation deeper and deeper into debt and financial failure.
I don't blame him for the condition we were in but as the economy and higher taxes, prices and out of control spending continue, I blame him.

Quote:
Originally Posted by SouthCity09 View Post
haha..so now polls matter...but its bs when CBS does a poll that says 85% americans want health care reform...
Well that actually was BS.

Quote:
Originally Posted by odanny View Post
46% of the country voted McCain/Palin, so it doesnt surprise me that Obama is being blamed for 8 years of neocon misrule
Maybe 46% of the votes counted were for M/P but we will never know how many really voted for who.

Quote:
Originally Posted by LizzySWW View Post
Only 39% of us are mad???? He's spending money left & right(money that we DON'T have). He's getting all this cash from China and we have no way to pay them back. Thanks Obama.
I'm sure more than that are mad about it, it's just too early for the smarter ones to admit they were wrong.

Quote:
Originally Posted by jcarlilesiu View Post
Money in savings is about the worst investment you can make next to buying a brand new yacht. People are saving in banks with 2.9% APY because they are scared they may need some backup, not because they are more money savvy.
Agree, money in savings is a terrible investment however we at least wont lose it as fast as lets say.....GM.

Quote:
Originally Posted by MotleyCrew View Post
I recall some very good and prosperous years under Bush. Took longer than his 8 year term to drive this car over a cliff and it started in 1992 with Freddie and Fannie giving loans to people who could not make the payments on. And now, golly gee, Barney is suggesting that we repeat the insanity. Obama owns this now, sorry to say because it is obvious that his stimulating has done little or nothing other than some road works here and there to fix this mess. He has spent far more than any other administration even Bushie.
Isn't that insane! Even for a flaming lib like Frank, you would think he would be kicked out on his flabby azz the minute he said that. But then again, they seem to be determined to destroy what's left of a poor economy.
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