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Question by Uncle Tom: Did we really spike the economy with Cash for Clunkers, or just put more people into further personal debt?
Americans could learn a lot from working with Jewish people. If a Jew needs a computer, and one has a 1 year warrant and is $ 300.00 and the other has a 5-year warrant and is $ 325.00, they’ll almost always buy the $ 300.00 system. Then they put the extra $ 25 in their bank account. That’s why most are rich! They would never trade in a paid for running car for a new one with a car payment.

Pat: I’d say $ 3Billion dollars is a lot of money to hire just 1200 workers.
1500, what ever. That’s $ 2,000,000/worker. I could do that without putting a bunch of people in debt.

Best answer:

Answer by Cinner
A false spike and yes probably more personal debt they may or may not be able to pay. It’s turned into a great big fiasco.

Know better? Leave your own answer in the comments!

by eric731

Question by 2 Happily Married Americans: How much longer can the U. S. economy survive with all the personal debt, overinflated housing, etc?
Does it seem to anyone else like this is very similar to the late 1920′s, or even the late 1970′s to anyone else? People are building huge houses, but cannot afford to heat them; the housing bubble on paper that people took out 110% mortagages, and now the homes aren’t selling for 70% of that? We were just wondering, because we have been saving our money so we can buy when it all collapses!

Best answer:

Answer by sophieb
I don’t know, I wasn’t around in the 1920′s. The 1970′s I had a small affordable house and there was inflation and unemployment too. Yes people today are building large houses and buying large houses because they are in a “rush” (because of the internet) to own the American Dream but they have no finances and the mortgage companies who supported their dream have caused an 87% higher than last year home repossession rate. So yes the young people who were in a rush and didn’t understand financing are facing bankruptcy and their lives ruined.

You didn’t say what kind of money you have saved or what size home you are looking for or where so I as a real estate agent am unable to give you any further advice. The repossessed homes are out there right now and are on the auction block (auction means you need to have the money on hand to buy them outright), but even at those lower prices people weren’t able to afford them (because of the doubled insurance and higher taxes, no money for fixing anything, etc.) so get with a good finance person and discuss your financial stability (your education and how stable your job is and that there are two of you working, etc. so that you won’t go under too). Years ago if you earned $ 25,000 you bought a $ 25,000 house. If you plan to buy a house for $ 250,000 (the average home) then you best be earning $ 250,000.

You asked a question but then your paragraph went off in a different direction. People don’t need all that personal debt, and the bankruptcy laws have changed now, and you’ll have to make a payment plan to pay that back. Houses doubled in cost over the past five years, but even five years ago people could not afford them or barely afford them. It seems like a certain age of people are taking a lot of chances.

Add your own answer in the comments!

Question by Jessie Martinez: Are people reducing personal debt in this economy?

Best answer:

Answer by gosam777
Yes. And saving more also. And it’s pissing off the feds off to no end. When they issued $ 600 checks to everyone a few years ago, the population used it to pay down debt. The government was expecting us to irresponsibly spend it like they do, or risk it in high risk investments like the investment banks.

Now that the general public has made a statement will no longer participate in their foolish spend with no end attitude, they and the Fed have no idea how to get out of this current deflationary downturn they created with their out of control spending, and getting into bed with Wall Street

What do you think? Answer below!

AP-GfK Poll: Americans turn more pessimistic on economy but aren’t taking it out on Obama
WASHINGTON — For all the talk of recovery, Americans are growing increasingly pessimistic about the economy as soaring gas costs strain already-tight budgets. So far, people aren’t taking it out on President Barack Obama, a new Associated Press-GfK poll shows.
Read more on Washington Post

Facts: A difference of opinion
In addition to declaring his intentions to resign from office, Mayor John Harper distributed a “fact sheet” during a breakfast with the mayor event Thursday where he detailed information he said proves the city council is “not listening to the citizens.”
Read more on The Rowlett Lakeshore Times

AP-GfK Poll: Americans souring more on economy
For all the talk of recovery, Americans are growing increasingly pessimistic about the economy as soaring gas costs strain already-tight budgets. But so far, people aren’t taking it out on President Barack Obama, a new…
Read more on FOX 12 Idaho

HSBC Holdings PLC – Annual Financial Report – 10 of 41
HSBC Holdings PLC – Annual Financial Report – 10 of 41
Read more on AFX CNF Finance Regulatory News via Yahoo! UK & Ireland Finance

AP-GfK Poll: Americans souring more on economy
For all the talk of recovery, Americans are growing increasingly pessimistic about the economy as soaring gas costs strain already-tight budgets. But so far, people aren’t taking it out on President Barack Obama, a new…
Read more on WVVA Bluefield

AP-GfK Poll: Americans souring more on economy
For all the talk of recovery, Americans are growing increasingly pessimistic about the economy as soaring gas costs strain already-tight budgets. But so far, people aren’t taking it out on President Barack Obama, a new…
Read more on CBS4 Quad Cities

Question by jud: What is the reason for 900,000 homes being lost to foreclosures , the economy or personal debt?

Best answer:

Answer by Lauren
Personal Debt. People bought when interest rates on mortgages were low and now they’re going up and can’t afford it anymore

What do you think? Answer below!

Question by jud: What is the reason for 900,000 homes being lost to foreclosures , the economy or personal debt?

Best answer:

Answer by kveryeffective
Personal debt.
People think they need to have all the toys right now.
The big house and big cars.
It doesn’t matter if they can afford it or not just sign on the line.

This old myth about we need two incomes to make ends meet needs to be wipe out.

You can make it on one income if you live with in your means. Buget and save money.

The other myth doing it all for the children.
The #1 thing kids want is time with their parents not toys.

I have seen guys who own those big homes and when they come home so tired they fall asleep to wake up and to go work again.

They buy the SUV and complain when gas prices go up.

If people get a budget and live within that budget they will be fine.

Add your own answer in the comments!

Question by jud: What is the reason for 900,000 homes being lost to foreclosures , the economy or personal debt?

Does anyone have a way that the private sector can change this ?

Best answer:

Answer by stockoslayer
Greedy subprime lenders lent a bunch of people with bad credit, and insufficient income, money they should not have.

Additionally, these greedy lenders charged very high back end interest rates. Now that the grace periods are over, the payments are skyrocketing and the people that took the loans can’t pay.

This is purely a tale of corporate greed. These lenders knew these people would not be able to pay it back, but they did it anyway….now they want us (through the govt) to bail them out, after they took all the cash.

Add your own answer in the comments!

Which Philosophy Do You Agree With?


Image by Tennessee Wanderer
In case you can’t read the credit for this quote it was made by Abraham Lincoln.

I beleive that a mans wages is his personal property and no one, including the government, has the right to take it away for any reason. Abraham Lincoln does not agree with me since he started the first income tax to fund his agression against the Confederacy. Those that agree with him have created 12 trillion dollars of debt for the US of A. A debt that if the IRS taxed the the combined incomes of all the Fortune 500 companies at a rate of 100% would take over 100 years to pay back.

Canadian economy chugging along, ‘not at full steam’
The Canadian Chamber of Commerce is warning that the domestic economy is heading into a period of subdued growth — less than 2.5 per cent in 2011 — after an initially robust rebound from the recession.
Read more on CTV Toronto

Top 10 stories of 2010
This might have been the year when we were dreaming of 2016 — or dreading it.As it turned out, most Chicagoans in 2010 gave barely a second thought to the lost Olympics. Most of us had more pressing concerns — holding onto our jobs in a limping economy, paying the mortgage and, near year’s end, wondering how many more of the city’s finest would be slain by the city’s worst.To cheer us up, the …
Read more on Chicago Sun-Times

The four winnebagos …


Image by nekonoir
of the coming middle-class apocalypse.

Pollution, Obesity, Personal Debt and the leader, Boredom. Sighted enroute to Port Arthur.

With apologies to Gaiman and Pratchett.

Economy, of course, is business story of 2010
In 2010, the economy rebounded fitfully from the Great Recession — starting strong, wobbling at midyear but showing enough vigor to quell fears of a second recession.
Read more on MSNBC

EyeBuyDirect.com Featured on “The Dr. Oz Show” for Cost-Saving Secrets from Doctors’ Office
Internet Retailer Zooms In on Designer Deals for Prescription Eyeglasses
Read more on PRWeb via Yahoo! News