Economy is doing well

[forestal]

The Lord giveth...

Consumer Spending Spurs Dow to Record
By TIM PARADIS 02.02.07, 12:55 AM ET
Stocks climbed for the third straight day Thursday as an already buoyant Wall Street embraced robust consumer spending figures and largely overcame disappointment in Google Inc.'s profit report. Both the Dow Jones industrials and the Russell 2000 index of smaller companies closed at new highs.​

and the Lord taketh away...

Personal savings rate drops to lowest in 74 years
WASHINGTON (AP) -- Americans once again spent everything they made and then some last year, pushing the personal savings rate to the lowest level since the Great Depression.

The Commerce Department reported Thursday that the savings rate for all of 2006 was a negative 1 percent, meaning that not only did people spend all the money they earned, but they also dipped into savings or increased borrowing to finance purchases. The 2006 figure was lower than a negative 0.4 percent in 2005, and was the poorest showing since a negative 1.5 percent savings rate in 1933 during the Depression.​

Nice to know that our economy depends on us spending more than we earn..
Can you say 'Train Wreck'???

 

[Pete]

Perhaps the housing boom increased borrowing? Hmmmmmmm You know that "highest percentage of home ownership EVER"? Using savings for downpayments?

 

[AK-74me]

huh, I am at a 30 year high. Bush's fault.

 

[AndyMarquisLIVE]

The Lord giveth...

Consumer Spending Spurs Dow to Record

By TIM PARADIS 02.02.07, 12:55 AM ET
Stocks climbed for the third straight day Thursday as an already buoyant Wall Street embraced robust consumer spending figures and largely overcame disappointment in Google Inc.'s profit report. Both the Dow Jones industrials and the Russell 2000 index of smaller companies closed at new highs.
​

and the Lord taketh away...

Personal savings rate drops to lowest in 74 years
WASHINGTON (AP) -- Americans once again spent everything they made and then some last year, pushing the personal savings rate to the lowest level since the Great Depression.

The Commerce Department reported Thursday that the savings rate for all of 2006 was a negative 1 percent, meaning that not only did people spend all the money they earned, but they also dipped into savings or increased borrowing to finance purchases. The 2006 figure was lower than a negative 0.4 percent in 2005, and was the poorest showing since a negative 1.5 percent savings rate in 1933 during the Depression.
​

Nice to know that our economy depends on us spending more than we earn..
Can you say 'Train Wreck'???

The economy's fine.

 

[FromTexas]

Why should I feel bad that stupid people choose to spend more on stuff they really don't need instead of saving and I get more on my investments because of this stupidty?

 

[forestal]

As usual, you're wrong.

The savings rate is computed by taking the amount of personal income left after taxes are paid, an amount known as disposable income, and subtracting the amount of spending. Since the figure has dipped into negative territory, it means consumers are spending all of disposable income and then some.

Perhaps the housing boom increased borrowing? Hmmmmmmm You know that "highest percentage of home ownership EVER"? Using savings for downpayments?

 

[forestal]

Not when it's being propped up by borrowing.

Watch what happens when people can't borrow anymore, and start to pare their spending. That will mean layoffs creating even less consumer spending, and so on and so forth.

The economy's fine.

 

[Pete]

As usual, you're wrong.

The savings rate is computed by taking the amount of personal income left after taxes are paid, an amount known as disposable income, and subtracting the amount of spending. Since the figure has dipped into negative territory, it means consumers are spending all of disposable income and then some./i]

Like you said, life is good.

 

[forestal]

Because your country's economy is close to going down the crapper??

Why should I feel bad that stupid people choose to spend more on stuff they really don't need instead of saving and I get more on my investments because of this stupidty?

 

[Pete]

Not when it's being propped up by borrowing.

Watch what happens when people can't borrow anymore, and start to pare their spending. That will mean layoffs creating even less consumer spending, and so on and so forth.

Eff you are a miserable son of a biatch. I bet you would euthanize a puppy because it is just going to die anyway.

 

[Pete]

Because your country's economy is close to going down the crapper??

Captain Overreaction! If I were you I would just end it all now you poor poor negative goober

 

[itsbob]

huh, I am at a 30 year high. Bush's fault.

I'm at a 44 year high.. maybe it's the democrats too stupid to save any of their money..

 

[MMDad]

As usual, you're wrong.

The savings rate is computed by taking the amount of personal income left after taxes are paid, an amount known as disposable income, and subtracting the amount of spending. Since the figure has dipped into negative territory, it means consumers are spending all of disposable income and then some.

Easy economics lesson for people who are too stupid to understand the big picture:

Borrow when the interest rate is low. Save when the interest rate is high.

People are investing in property instead of putting money in the bank. When the market shifts, people will be sitting on low interest loans. What's the problem?

 

[AndyMarquisLIVE]

Captain Overreaction! If I were you I would just end it all now you poor poor negative goober

"Your country" ... So he's posting from outside the United States? So he's anti-American?

 

[Pete]

Easy economics lesson for people who are too stupid to understand the big picture:

Borrow when the interest rate is low. Save when the interest rate is high.

People are investing in property instead of putting money in the bank. When the market shifts, people will be sitting on low interest loans. What's the problem?

It is futile. Captain Negative is too stupid to even apply the cut and paste he pulled off his liblog.

Say I make $55K, I pay 13K in taxes, that leaves $32K but I finance a new car at 2.9% and the car cost me $33K, My adjustable rate CC is low so I buy new counter tops and a fridge to dress up my house. I have just dipped negative BUT I added to the economy.

 

[AndyMarquisLIVE]

It is futile. Captain Negative is too stupid to even apply the cut and paste he pulled off his liblog.

 

[Mikeinsmd]

Not when it's being propped up by borrowing. Watch what happens when people can't borrow anymore, and start to pare their spending. That will mean layoffs creating even less consumer spending, and so on and so forth.

And it'll all be Bush's fault too!! He is controlling all our minds. We are all zombies under his control.

AHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH!!!!!!

 

[FromTexas]

Thank God we have someone like Hillary who wants to take all of a companies profits to do what she considers is good.

 

[somdebay]

can I have some money?

 

[vraiblonde]

Well, kids, I'm off to the mall so I can destroy the country!