America and Debt

http://finance.yahoo.com/news/Lost-decade-Debt-fuels-slow-cnnm-3856912071.html

The Good News: More American's have begun to place more emphasis on paying off there existing debt, living within there means, and realizing the value of a consistent savings plan.

The Bad News: Economic conditions often make this mindset no more than a wish, as unemployment remains stubbornly high, and many part time employees cannot find full time work.

Old news...I know. The point here is looking for quick fix's, and magic pills are a waste of time, because they don't exist. People need to understand this economic situation will be with us for a long time to come. While our lawmakers (on both sides) chatter, we would all do well to focus on educating ourselves on the finer points of our personal finances, putting plans on paper, and carrying them out. This need not cost anything. A great deal of fine materal can be found in our own local libraries. In 10-12 years, when America's economy is booming again (yes...I think it will take that long) those of us who pursued sound plans of debt repayment and consistent savings will prosper greatly when the economy turns for the better. Those who did not will continue to struggle.

😏

Originally posted by bill718
http://finance.yahoo.com/news/Lost-decade-Debt-fuels-slow-cnnm-3856912071.html

The Good News: More American's have begun to place more emphasis on paying off there existing debt, living within there means, and realizing the value of a consistent savings plan.

The Bad News: Economic conditions often make this mindset no more than a wish, as unemployment ...[text shortened]... when the economy turns for the better. Those who did not will continue to struggle.

😏

Don't bother saving dollars, the printing press is till running at the red line, each dollar that rolls off that machine that isn't based on some value takes a little something from every dollar you hold.

Originally posted by Wajoma
Don't bother saving dollars, the printing press is till running at the red line, each dollar that rolls off that machine that isn't based on some value takes a little something from every dollar you hold.

I think you'll be proved wrong here. This may be true in the short run, but people have been betting against America's ecomomy for over 200 years, only to find they backed the wrong side.

Originally posted by Wajoma
Don't bother saving dollars, the printing press is till running at the red line, each dollar that rolls off that machine that isn't based on some value takes a little something from every dollar you hold.

This isnt exactly true (though a commonly held belief).

If the monetary easing works (a big IF maybe) then the subsequent stimulation to the economy will offset the inflationary pressure of "more money".

The currency could in theory actually get stronger.

Originally posted by bill718
[b]http://finance.yahoo.com/news/Lost-decade-Debt-fuels-slow-cnnm-3856912071.html

The Good News: More American's have begun to place more emphasis on paying off there existing debt, living within there means, and realizing the value of a consistent savings plan.

To pay down the debt two things must occur. They must raise taxes and cut benefits/enttlements. Both are political suicide as recent Wisconsin politics would indicate.

Sure, people want to lower the debt, so long as the guy down the street makes sacrifices and not them.

you can't pay down a debt when your entire currency is based on debt.

if you want to pay down a debt, you have to use real money. but america doesn't have real money anymore, all the US gold has been looted by the IMF.

in lieu of real money, the US government has been using the US citizen labor force as collateral for debts. the slave trade is back.