Why saving is killing the economy.

[Bindare_Dundat]

http://money.cnn.com/2009/02/12/news/economy/savings_rate/index.htm?postversion=2009021208

c'mon guys, spend, get in debt and save the economy.

Saving more and cutting debt might sound like a good plan to deal with the recession. But if everyone does that, it'll only make matters worse.

 It wasn't that long ago that many economists worried that Americans were saving too little.

Today, the growing concern is that Americans are starting to save too much.

It's not that the savings rate today is high by historic measures, or by comparisons to some other countries. But it has moved sharply higher in recent months -- at a time when what the economy needs most is for consumers to be spending more freely.

"In the long-term, it's best for Americans to save more. But right now, with the economy underwater, it's the worst time for that," said Rich Yamarone, director of economic research at Argus Research.

The savings rate, as calculated by the Commerce Department, hit 3.6% in December, or the equivalent of $36 for every $1,000 of after-tax income.

[headhuntersix]

Ur right...I'll take the 13 bucks Obama is going to give me, extra, per pay check and lets see.....I can by 2, 5 dollar foots longs, a drink and a cookie. So not only is Obama not actually giving us our money back as he promised, he contributing to obesity. Once again...GOOD JOB BARRY!

[Hugo Chavez]

If they want people to spend, maybe they should have bailed out the people.  Right now banks get bailed out and we foot the bill and still have to pay our debts to them.  I know, I'm not supposed to ask for a handout.  Just irks me to see them behind the fuckup and walking away with a big fat bonus sucked out of our gut.  If that's what they get, then yea, I say fuck them, they should have skipped the banks all together and bailed out the people.  Yes I know that wouldn't probably work either.

[headhuntersix]

The dems stripped out tax cut, cut the money we were supposed to get back, to include a check as opposed to the 13 extra dollars....they were supposed to do it transparently as well. Barry made alot of promises, non of which are cominmg true. No I take that back...the socialist agenda appears to be in full swing. All these bailouts are a bad idea.

[headhuntersix]

Stocks tumbled to late November levels Thursday, led by banks, as investors worried the stimulus plan wouldn't be enough to help the economy.



The first rise in retail sales in seven months had buoyed futures but traders shrugged it off as regular trading got underway, sending the Dow Jones Industrial Average down more than 150 points. The blue-chip index was trading below 7,800, a level it hasn't seen since Nov. 21.

The market got a mild bounce Wednesday from news that the Senate had agreed on a stimulus plan but Wall Street wasn't convinced of the plan's ability to jump-start the economy.

[Soul Crusher]

Stocks tumbled to late November levels Thursday, led by banks, as investors worried the stimulus plan wouldn't be enough to help the economy.



The first rise in retail sales in seven months had buoyed futures but traders shrugged it off as regular trading got underway, sending the Dow Jones Industrial Average down more than 150 points. The blue-chip index was trading below 7,800, a level it hasn't seen since Nov. 21.

The market got a mild bounce Wednesday from news that the Senate had agreed on a stimulus plan but Wall Street wasn't convinced of the plan's ability to jump-start the economy.

Go listen to the Celente interviews on Youtube.  We are screwed royally. 

I also read an article that Europe alone is the hole for over 16 trillion. 

[War-Horse]

Ive got money.  And i aint spending a dime more than i need too.     I am stocking up on non perishible food and ammo just in  case, tho.