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Originally Posted by Flapgums
20% percent of Americans hold 50% of the countries wealth.
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Most likely these people EARNED it. So you are going to hold it against them?
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Originally Posted by Flapgums
The cost of living outpaces the average workers paycheck by a ever widening percentage. No country can survive if the population's income continues to lose ground with the cost of surviving. Dual income families are a must, Living paycheck to paycheck is a common thing and savings accounts continue to become less common.
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Blame Alan Greenspan. Blame the Chinese. Blame the Indians.
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Originally Posted by Flapgums
Debt ratios climb as corporate greed runs rampant and unwilling legislators continue to look the other way.
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Non-sequiter. Gov't deficit spending is only part of the problem. We also have huge imbalances in the trade deficit and nobody is saving money. Whatever happened to personal responsibility? Nobody pointed a gun at Joe America's head and said "hey, lever up with a sub-prime negative amortization mortage, and hey, we got zero percent auto loans for you and hey, here's a credit card, go buy some cheap Chinese flat-screen TV on it and pay for it thirty years later."
It's the other way around - eventually corporate America is gonna get HURT because stupid Americans can't control themselves while spending themselves silly into an AVERAGE NEGATIVE SAVINGS RATE nationwide.
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Originally Posted by Flapgums
Paying for gas, groceries with a credit card, unless you are among the fortunate few who can pay the monthly balance in full, is insane at 18 to 22%.
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Then don't do it. Cut back on other things and pay for stuff with cash. If your rate is too high, then you can always shop around. If you shop around (rates are still at historical lows for preferred credit), and your rate is still too high, then you probably have $hitty credit (irresponsible or have too much outstanding) and SHOULDN'T have access to any more borrowing capacity.