Fear-Mongers keep us in recession

ASG said:
Wrong but partly right. It was not stupid spending that go us here, it was stupid debt . Spending actual physical cash like people have tucked away in the mattress or in a savings did not and will not get us in this mess. (Yes there are dangers of not having savings and spending your savings and all that but that's a whole other subject) It was people spending recklessly in debt, i.e. buying cars/ houses / credit cards when they don't have the cash pay for it. I read a number of stories of people without any income getting huge home loans - that's the kind of thing that got us here.

People showing confidence and actually spending money that have (not debt based) is what we need and what the articles are talking about when they say the Americans need to spend.

No-one in their right mind would suggest or want to go back to the system that got us here.
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And the banks for dishing it out. Like the bank that loaned a Mexican fruit picker living in southern CA $ 700,000 for a house yet he earns just $ 14,000 p.a and does not speak a word of english....:sick:
 
StrongTurd said:
Ssssh! You're talking the market down!
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He he! But you have to give me credit (just gotta love that expression!) for spending like a lunatic at the same time ... borehill drilled and fitted, home garden established and flourishing, some solar panels next. All funded with savings, mind you.

Sadly, I don't see my spending spree turning the economic tide, but at least I will be off the grid to a degree. ;) And that, I suppose, will limit my future economic participation - and no doubt brand me an economic saboteur in some circles. :D
 
Generix said:
But you have to give me credit (just gotta love that expression!) for spending like a lunatic at the same time ... borehill drilled and fitted, home garden established and flourishing, some solar panels next. All funded with savings, mind you.
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Thank you... It means I do not have to close my hardware shop and retrench 10 people;) We need more people like you:p
 
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