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Offline BlueStateSaint

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Frugal Americans Hurt Economic Recovery
« on: February 02, 2009, 05:20:26 AM »
The Law of Unintended Consequences in action . . .

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Frugal Americans Hurt Economic Recovery

The paradox of thrift -- Americans are saving more in tough times but that's no good for the economy.

AP

Sunday, February 01, 2009

Americans are hunkering down and saving more. For a recession-battered economy, it couldn't be happening at a worse time.

Economists call it the "paradox of thrift." What's good for individuals -- spending less, saving more -- is bad for the economy when everyone does it.

On Friday, the government reported Americans' savings rate, as a percentage of after-tax incomes, rose to 2.9 percent in the last three months of 2008. That's up sharply from 1.2 percent in the third quarter and less than 1 percent a year ago.

Like a teeter-totter, when the savings rate rises, spending falls. The latter accounts for about 70 percent of economic activity. When consumers refuse to spend, companies cut back, layoffs rise, people pinch pennies even more and the recession deepens.

The downward spiral has hammered the retail and manufacturing industries. For years, stores enjoyed boom times as shoppers splurged on TVs, fancy kitchen decor and clothes. Suddenly, frugality is in style.

More at the link:

http://www.foxnews.com/politics/2009/02/01/frugal-americans-hurt-economic-recovery/

I know that we've started to pinch pennies, and invest in canned foods and "precious metals"--lead being the most prevalent.  :-)
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Offline JohnnyReb

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Re: Frugal Americans Hurt Economic Recovery
« Reply #1 on: February 02, 2009, 07:15:51 AM »
Bad Americans not consumming enough are destroying the planet......Hell, just last week it was Bad evil rich Americans are consumming to much and are destroying the planet.

Make up your minds, liberals.

Nevermind liberals.....I assumed you had one.
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“The American people will never knowingly adopt socialism. But, under the name of ‘liberalism’, they will adopt every fragment of the socialist program, until one day America will be a socialist nation, without knowing how it happened.” - Norman Thomas, U.S. Socialist Party presidential candidate 1940, 1944 and 1948

"America is like a healthy body and its resistance is threefold: its patriotism, its morality, and its spiritual life. If we can undermine these three areas, America will collapse from within."  Stalin

Offline Chris_

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Re: Frugal Americans Hurt Economic Recovery
« Reply #2 on: February 02, 2009, 07:28:12 AM »
Who can afford to save money in this Oooooobama economy?   :fuelfire:
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Offline SSG Snuggle Bunny

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Re: Frugal Americans Hurt Economic Recovery
« Reply #3 on: February 02, 2009, 07:46:08 AM »
Well, there's certainly no point in investing it because you'll be penalized for being too rich.
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Offline Chris_

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Re: Frugal Americans Hurt Economic Recovery
« Reply #4 on: February 02, 2009, 08:00:35 AM »
Quote from: Mr Snuggle Bunny on February 02, 2009, 07:46:08 AM
Well, there's certainly no point in investing it because you'll be penalized for being too rich.
We shouldn't need to save anyway, 'cause the gubmint is gonna take care of us in our old age...right?   Right?

*crickets chirping*

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Offline formerlurker

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Re: Frugal Americans Hurt Economic Recovery
« Reply #5 on: February 02, 2009, 08:31:04 AM »
Quote from: Mr Snuggle Bunny on February 02, 2009, 07:46:08 AM
Well, there's certainly no point in investing it because you'll be penalized for being too rich.

Absolutely.   You invest it, he will take it.    You'll get change alright -- about a handful when he is done. 
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Offline JohnnyReb

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Re: Frugal Americans Hurt Economic Recovery
« Reply #6 on: February 02, 2009, 08:54:17 AM »
Quote from: lug-nut on February 02, 2009, 08:00:35 AM
We shouldn't need to save anyway, 'cause the gubmint is gonna take care of us in our old age...right?   Right?

*crickets chirping*



Right.......How many times have they got to tell you?
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“The American people will never knowingly adopt socialism. But, under the name of ‘liberalism’, they will adopt every fragment of the socialist program, until one day America will be a socialist nation, without knowing how it happened.” - Norman Thomas, U.S. Socialist Party presidential candidate 1940, 1944 and 1948

"America is like a healthy body and its resistance is threefold: its patriotism, its morality, and its spiritual life. If we can undermine these three areas, America will collapse from within."  Stalin

Offline Chris_

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Re: Frugal Americans Hurt Economic Recovery
« Reply #7 on: February 02, 2009, 11:31:39 AM »
Quote from: JohnnyReb on February 02, 2009, 08:54:17 AM
Right.......How many times have they got to tell you?
Well, I'm old. Where's my  :censored: d*mned pony? 
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Offline JohnnyReb

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Re: Frugal Americans Hurt Economic Recovery
« Reply #8 on: February 02, 2009, 11:52:39 AM »
Quote from: lug-nut on February 02, 2009, 11:31:39 AM
Well, I'm old. Where's my  :censored: d*mned pony? 

Me too.....and apparently, so is our ponies.
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“The American people will never knowingly adopt socialism. But, under the name of ‘liberalism’, they will adopt every fragment of the socialist program, until one day America will be a socialist nation, without knowing how it happened.” - Norman Thomas, U.S. Socialist Party presidential candidate 1940, 1944 and 1948

"America is like a healthy body and its resistance is threefold: its patriotism, its morality, and its spiritual life. If we can undermine these three areas, America will collapse from within."  Stalin

Offline bijou

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Re: Frugal Americans Hurt Economic Recovery
« Reply #9 on: February 02, 2009, 11:55:10 AM »
Look, you people can't be trusted with money. Uncle Zero will take all your money for safekeeping and give you vouchers to exchange for approved goods and services. Get with the program folks.  :-)
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Offline Chris_

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Re: Frugal Americans Hurt Economic Recovery
« Reply #10 on: February 02, 2009, 12:02:40 PM »
Quote from: bijou on February 02, 2009, 11:55:10 AM
Look, you people can't be trusted with money. Uncle Zero will take all your money for safekeeping and give you vouchers to exchange for approved goods and services. Get with the program folks.  :-)
Heh, that's the good news.  The bad news is that there are no approved goods or services.   :thatsright:
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Offline DumbAss Tanker

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Re: Frugal Americans Hurt Economic Recovery
« Reply #11 on: February 02, 2009, 02:21:46 PM »
Quote from: bijou on February 02, 2009, 11:55:10 AM
Look, you people can't be trusted with money. Uncle Zero will take all your money for safekeeping and give you vouchers to exchange for approved goods and services. Get with the program folks.  :-)

Didn't one of your nutty-but-greedy kings try something like this with the goldsmiths (who constituted the banking system, such as it was, at the time) back about 400 years ago?  I don't believe that one had a particularly positive outcome. 
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Offline Lord Undies

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Re: Frugal Americans Hurt Economic Recovery
« Reply #12 on: February 02, 2009, 02:32:54 PM »
Don't blame me.  I've been passing out money like I'm my own private congress.  I've paid three people's rent and a couple of cell phone bills.  My money is own the move.
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Offline jtyangel

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Re: Frugal Americans Hurt Economic Recovery
« Reply #13 on: February 02, 2009, 02:41:54 PM »
Quote from: bijou on February 02, 2009, 11:55:10 AM
Look, you people can't be trusted with money. Uncle Zero will take all your money for safekeeping and give you vouchers to exchange for approved goods and services. Get with the program folks.  :-)

Uncle zero?.......... :lmao: :lmao: :rotf: :rotf: I love it!
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Offline bijou

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Re: Frugal Americans Hurt Economic Recovery
« Reply #14 on: February 02, 2009, 02:46:01 PM »
Quote from: DumbAss Tanker on February 02, 2009, 02:21:46 PM
Didn't one of your nutty-but-greedy kings try something like this with the goldsmiths (who constituted the banking system, such as it was, at the time) back about 400 years ago?  I don't believe that one had a particularly positive outcome. 
Doesn't Obama think he's a king of sorts? Nothing new under the sun.
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Offline DumbAss Tanker

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Re: Frugal Americans Hurt Economic Recovery
« Reply #15 on: February 02, 2009, 02:49:30 PM »
Quote from: bijou on February 02, 2009, 02:46:01 PM
Doesn't Obama think he's a king of sorts? Nothing new under the sun.

If he believes his own press coverage, "King" might be lowballing it a bit.
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Offline rich_t

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Re: Frugal Americans Hurt Economic Recovery
« Reply #16 on: February 02, 2009, 03:05:52 PM »
It's a good thing that most folks don't save 10% like most financial planners recommend.
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"The American people will never knowingly adopt socialism. But, under the name of 'liberalism,' they will adopt every fragment of the socialist program, until one day America will be a socialist nation, without knowing how it happened." --Norman Thomas, 1944

Offline Chris_

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Re: Frugal Americans Hurt Economic Recovery
« Reply #17 on: February 02, 2009, 06:27:07 PM »
Quote from: Lord Undies on February 02, 2009, 02:32:54 PM
Don't blame me.  I've been passing out money like I'm my own private congress.  I've paid three people's rent and a couple of cell phone bills.  My money is own the move.
Um, while you're at it.....   :uhsure: :-)
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Offline Lord Undies

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Re: Frugal Americans Hurt Economic Recovery
« Reply #18 on: February 02, 2009, 06:33:53 PM »
Quote from: lug-nut on February 02, 2009, 06:27:07 PM
Um, while you're at it.....   :uhsure: :-)

You gotta have my private number.  Since I posted that I've relieved myself of another $132.33.  I paid next weeks daycare bill and filled two tanks with gas.
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Offline DixieBelle

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Re: Frugal Americans Hurt Economic Recovery
« Reply #19 on: February 02, 2009, 06:43:59 PM »
Bijou - you win the "name Obama" contest!!! Uncle Zero it is from now on in my book! :rotf:

Someone needs to photoshop an Uncle Sam "I want you......" poster.  :lmao:
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Offline Chris_

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Re: Frugal Americans Hurt Economic Recovery
« Reply #20 on: February 03, 2009, 06:19:19 AM »
Quote from: Lord Undies on February 02, 2009, 06:33:53 PM
You gotta have my private number.  Since I posted that I've relieved myself of another $132.33.  I paid next weeks daycare bill and filled two tanks with gas.
I'll have my barrister in Zimbabwe get in touch with you.   :-)
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Offline thundley4

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Re: Frugal Americans Hurt Economic Recovery
« Reply #21 on: February 03, 2009, 07:55:02 AM »
I plan on spending lots of money on hay, oats and other things that horses like, just as soon as I get my damn pony.
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Offline Lacarnut

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Re: Frugal Americans Hurt Economic Recovery
« Reply #22 on: February 03, 2009, 04:51:44 PM »
Quote from: lug-nut on February 02, 2009, 11:31:39 AM
Well, I'm old. Where's my  :censored: d*mned pony? 

The pony was a misprint; instead it was supposed to be pennies. That's what Obama and the Democraps want to leave you with.

I did my part of trying to jack up the economy today. I bought a 2008 Nissan 350Z sports car. Drove around all day in it. 
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Offline JohnnyReb

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Re: Frugal Americans Hurt Economic Recovery
« Reply #23 on: February 05, 2009, 07:15:25 AM »
Quote from: Lacarnut on February 03, 2009, 04:51:44 PM
I did my part of trying to jack up the economy today. I bought a 2008 Nissan 350Z sports car. Drove around all day in it. 

Well get your ass back out there. It's 12 degrees here this morning and I could use a little glow-ball warming.
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“The American people will never knowingly adopt socialism. But, under the name of ‘liberalism’, they will adopt every fragment of the socialist program, until one day America will be a socialist nation, without knowing how it happened.” - Norman Thomas, U.S. Socialist Party presidential candidate 1940, 1944 and 1948

"America is like a healthy body and its resistance is threefold: its patriotism, its morality, and its spiritual life. If we can undermine these three areas, America will collapse from within."  Stalin

Offline Hawkgirl

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Re: Frugal Americans Hurt Economic Recovery
« Reply #24 on: February 05, 2009, 09:38:22 PM »
<------Frugal American


 :shucks:
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