At what point in history Americans shifted from having savings to having debts?

[crgarcia]

Maybe during the 90's easy credit?
Or right after the 70s inflation skyrocketed costs of living?

 

[endsongs]

America went from a net creditor to a net debtor nation during the Reagan admins debt runup.

 

[misterno]

I hate Reagan

What a jerk that fucked up USA

 

[peilthetraveler]

Americans have always had savings & debts even before this was America. All you have to worry about in this life is that you are a saver and not a debtor. Savers are the masters, debtors are the slaves.

There are always small instances in history where the debtor comes out ahead & the saver loses (in hyperinflationary situations), but after that has passed, their old habits will find them in the same situation they were in pre-hyperinflationary times. The habits of the saver will bring him ahead again eventually.

 

[toc]

Reagan freed the humanity from communism and we should thank him for that. Clinton even brought the books to balance but Bush-II fucked it all up............royally! American needs a fiscal dictatorship now........got to take the hard pill.