If you don't spend, you'll lose your job.
Sep 20th, 2001, 06:30 PM
#1
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If you don't spend, you'll lose your job.
60% of our economy is held up by consumer spending. Contrary to instinct you should spend to save your job. If you don't, our economy will sink further and companies will retrench more. What is the use of having 6 mths savings when you are unemployed for 1 year? Borrow more money since interest rates are so low. Re-mortgage your house at a lower rate and with that savings, go take a holiday, or buy a new car.Enjoy yourself now so that you can enjoy yourself further.Do it now before it is too late.
The Japanese save 50% of their income and look at their economy.It's been 10 yrs and they are still in recession.They haven't had a pay rise for 10 yrs and their bank pays them nothing on their deposits. Some even keep their money under their mattress because it is safer in the event of a bank collapse. Now even when interest rates are close to zero, their economy cannot revive. Don't let America go down that route.
I urge all of you to spend and travel to save your own jobs!!!
The Japanese save 50% of their income and look at their economy.It's been 10 yrs and they are still in recession.They haven't had a pay rise for 10 yrs and their bank pays them nothing on their deposits. Some even keep their money under their mattress because it is safer in the event of a bank collapse. Now even when interest rates are close to zero, their economy cannot revive. Don't let America go down that route.
I urge all of you to spend and travel to save your own jobs!!!
Sep 20th, 2001, 08:16 PM
#3
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Alan's right. Don't be stupid in your spending, but acting like a deer in the headlights won't work either. Low interest rates give you an incredible opportunity to get your fixed costs as low as possible. Then, use some of the free cash to keep doing what you always do.
Sep 21st, 2001, 05:33 AM
#4
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Americans have way too much debt and are living beyond their means as it is. They need to live more frugally and get their financial houses in order.
Do you really expect people living paycheck to paycheck to go out and borrow money now and go on a spending spree? Please.
Do you really expect people living paycheck to paycheck to go out and borrow money now and go on a spending spree? Please.
Sep 21st, 2001, 05:53 AM
#5
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Alan greenspanjunior apparently hasn't learned too much from pop. Must be excusing himself from the dinner table to go to his room and play Nintendo. Consumer debt is just as serious as everything else. Sure we should spend our money and travel as often as we can, but it should always be done within our means -- and always put a little of your paycheck on the side for a rainy day.
