Americans finally learned to become savers?

donnap · Oct 21, 2008

I think that Corporations deserve ther fair share of the cedit.

These soulless entities have only the profit motive driving them. Sell, sell sell is their mantra. Consumers have had this partner in overspending.

And let's face it. To a certain degree, people are sheep. (although I dislike the term sheeple). Corps. are very good at taking advantage of human weaknesses and convincing consumers that they should buy, buy buy. We have all been influenced by advertising to some degree.

It's a pretty sick relationship, IMO.

Mind you, I don't think that Corps. are entirely to blame because folks had to be irresponsible enough to go along with it.

You may say that I'm a dreamer, but it would be nice to see Corps. and people take a longer and more respectful view of our world - instead of the irresponsible madness of the past.

stock_trad3r · Oct 21, 2008

Quote from turkeyneck:

Turmoil May Make Americans Savers, Worsening `Nasty' Recession

By Rich Miller

Oct. 20 (Bloomberg) -- The U.S. may be on its way to becoming a nation of savers, whether Americans like it or not.

http://www.bloomberg.com/apps/news?pid=20601109&sid=axsUMrc.liiE&refer=home

LOL not gonna happen. The era of consumerism, spendism, and paymentism which began on August 1982 is far from over. There will be no slowdown in consumer spending and debt will keep rising, which is bullish for stocks.

The Swordsman · Oct 21, 2008

Its over for America as we've grown to know it, and no amount of made up words will change that.

Now we will see savism, de-creditism and unshopism take hold

Quote from stock_trad3r:

LOL not gonna happen. The era of consumerism, spendism, and paymentism which began on August 1982 is far from over. There will be no slowdown in consumer spending and debt will keep rising, which is bullish for stocks.

staffpro · Oct 21, 2008

Quote from stock_trad3r:

LOL not gonna happen. The era of consumerism, spendism, and paymentism which began on August 1982 is far from over. There will be no slowdown in consumer spending and debt will keep rising, which is bullish for stocks.

you are bullish in everyone of your posts, ok so if the debt bubble is still gonna grow, when in your opinion will it ultimatly burst, and how bad will the recession/depression/bear market be when that happens?

The Swordsman · Oct 21, 2008

you dont get it, he thinks everything going on is "fake", a fake credit crunch and a made up mental recession.

He's completely delusional but most likely he is just having a good chuckle at all of us who respond to his nonsense.

Quote from staffpro:

you are bullish in everyone of your posts, ok so if the debt bubble is still gonna grow, when in your opinion will it ultimatly burst, and how bad will the recession/depression/bear market be when that happens?

stock_trad3r · Oct 21, 2008

Quote from staffpro:

you are bullish in everyone of your posts, ok so if the debt bubble is still gonna grow, when in your opinion will it ultimatly burst, and how bad will the recession/depression/bear market be when that happens?

it won't burst because wages, income, and productivity keep rising and inflation is falling. If a consumer can't pay off a credit card it goes to debt collection and covered via collateral. This is different than a mortgage default because there is no collateral. There is no bubble to pop.

frank grimes · Oct 21, 2008

stock you cant possibly be that stupid right? Actually maybe you are, it blows my mind what some of your posts infer...Is the frigging stock market the only thing that matters to you? Why? You have no real risk capital at work, we all know that..You would like the US to start a war in Iran, and you defend weakening our currency just to bail your sorry ass out? You have got to be the lonliest boy alive. Your life must truly be pathetic, I don't feel one ounce of sympathy for you though, on second thought,we probably wont see how unbelievably stupid you are until the final leg down in this bear, by that point you will have doo doo all in your underoos because your paper portfolio got completely wiped out!

ProfitTakgFool · Oct 21, 2008

And unfortunately it will all be wrapped into socialism, which will require higher taxism and probably lead to more alcoholism. YES, we are doomed. :mad:

Quote from The Swordsman:

Its over for America as we've grown to know it, and no amount of made up words will change that.

Now we will see savism, de-creditism and unshopism take hold

stock777 · Oct 21, 2008

Been a saver all my life.

Now I have to learn to be a spender so I can buy your 500k house for 150k

stock777 · Oct 21, 2008

Quote from wave:

Folks wondering why they can't get loans from the banks even when their note is paid off and they have equity. I tell ya why, the banks know what a f#$#$in mess we are in and that the shit has yet to hit the fan and when it does it's going to really stink and they ain't ready to touch it even with a six-foot pole.

Would you accept collateral that might depreciate drastically over the next two years? That's how this whole mess with Credit Default Swaps got started.

The MGICs (loan insurers) won't even take the risks any longer.

Dunno, I just applied for my zillionth credit card and they gave me a 25k line with bennies. No problem.

And no , I carry only debt I make money with. Free money. The best kind.

There's a very simple solution to the crisis. Eliminate all the deadbeats that refuse to pay their legal debts.