Savings Rate at Lowest Level Since 1933

No GTech, 6 years of the Bush Administration has folks thinking about the Great Depression....


You have heard of GM and Ford going broke because of record oil prices and thefts by Cheney, right

 

http://www.breitbart.com/news/2005/12/21/D8EKLL602.html

Is there a dialup number to your personal reality line?

No, I've not heard that. Not from any rationale person. Which probably explains why I'm hearing it from you.

 

You still living under a rock

http://www.google.com/search?hl=en&q=GM+Ford+closing+plants&btnG=Google+Search

You must be because the latest economic growth figures came in at 1% which is very slow.....

http://www.chron.com/disp/story.mpl/business/3616025.html

Jan. 26, 2006, 9:20PM
North American loss for GM over $5 billion
Automaker calls 2005 one of worst years in its history


New York Times

General Motors Corp. said Thursday that losses in its North American automotive business topped $5 billion last year as sales of sport utility vehicles continued to fall and advertising and health expenses rose.

Calling it "one of the most difficult years in GM's history," the company, which is cutting 30,000 jobs and closing all or parts of 12 factories, reported a fourth-quarter loss of $4.8 billion and an annual shortfall for the entire company of $8.6 billion.

Get real GTech, you can't go down with the Titanic and live....

 

You mean this rock?

http://www.google.com/search?hl=en&q=hillary+clinton+has+large+testicles&btnG=Google+Search

111,000 results today, it must be true!

 

So I guess it is now Google's fault and not Bush and Cheney's fault

Google was responsible for the oil war that raised oil to world records and broke GM and Ford......

Great stuff GTech......

 

the longest time? huh? give me control of the fed and i promise you i can destroy the country in 24 hours.

 

I heard that, but what he is talking about are these long term trends that take place where you can take a short position on a market, extract great amounts of money from oil, drive everyone to the poor house, take that money you stole on oil and buy everyone's cheap real estate, then do it all over again

It is called evil man, it is called greed.....

 

I didn't know that was google's fault? I thought it was Hillary's fault, with those large testicles! And we didn't even get any oil out of it

 

Last month there were lefty extremists who were complaining about SUV's and making laws against them. Now they say they want them? I can't keep up, the thoughts change as much as the wind does.

Just like "Bush is trying to get cheap gas" turns to " Bush wants the gas price to go high and put american car companies out of business."

 

That would have devestated John Kerry. He owns like a car lot of SUVs and fuel consuming private plane that he flies his personal hair stylist around in.

Yea, there are some that actually think a president can set the price of oil. Go figure

 

I believe we will have another war, a world war. History does repeat itself, but many young Americans today are so dumb they never read so they have no idea this country ever faced a depression.

This time, the depression is going to be ten times worse, because Americans these days are so dependent on the big corps and government that they don't know how to fend for themselves.

Most people these days, including myself, don't know how to even dig a well to get water or any of the stuff our great grandparents knew. We have been conditioned to rely on large companies for just about everything.

Even worse, most people are ignorant of technology. Only 20% of the population really has a clue. How many Americans have heard of HAARP or DARPA? How many Americans know that the CIA has been using predator unmanned drones to kill suspected Al Qaeda members, and the mass murder of innocent people in Pakistan is a result of it?

Yes, most people don't have a clue. That is precisely why this nation is about to fall. I don't know if the US can come out on top in world war 3. This war may likely see the exchange of nuclear weapons.

But the first thing I believe that is going to happens is the economy is going to take a huge dive.

 

Only young angry white males with low IQs have the ability to detect what the average American cannot.

Did you get your daily dose of fear pimping today?

 

Polls speak for themselves. 53% of Americans think Bush should be able to spy on us, when the 4th Amendment prohibits it unless it is for "probable cause."

Of course, I don't think they teach the Constitution in schools anymore:http://www.prisonplanet.com/articles/january2006/290106ignorance.htm.

Gtech, can you explain why the average American owes 8 grand in credit card debt, or why the rate of savings is the lowest since 1933?

If most Americans were financially astute, I don't think we would see so many people in debt with no savings to speak of.

 

Are you admitting to be an alqaida terrorist? "Us" are suspected terrorists. But then that whole argument is shot down:

http://www.washtimes.com/national/20051222-122610-7772r.htm

Surely you are not so guilible to think that a few thousand government employees have the capacity to monitor 300,000 million people? Even the treasonous NYT admitted, reluctantly, in their book sales article, that the targets were terrorists. Might want to rethink that "us" up above.

I'm not a young angry white male with a low IQ, so I don't rely on fear pimping from websites that have "prison" in the url for news.

It very well could be, because we have a very strong economy. I like credit cards myself. When I travel, I can reserve a hotel room and eat out. At Christmas, I can get gifts. I can reserve airline tickets. I use them to pay my monthly webhosting fees. They are quite handy!

You keep looking for a perfect world. You'll never find it. There's always something to bitch about, if that's what you're looking to do. Or you could surface from the basement and get out and enjoy life like most people do. Tough decisions

 

I dont know how to dig wells...
Can i just collect the rainfall?

I live in england...

 

Gtech, you may want to check your numbers. There are only about 300 million people living in the US, not 300 billion. You may also want to do your research on a tool the NSA uses. It is called ECHELON.

How do you know I'm a young white male with a low IQ? Why do you attempt to stereotype me because of my beliefs?

If our economy is so good, why do Americans need to borrow credit cards to spend money? And if the economy is so good, why does the average America owe 8 grand? Why let debt get that high if you can just pay it right off?

The topic of this thread is about Americans on average savings the lowest in 70 years. If the economy is so great, why was this in the mainstream news?

I do enjoy life. But it is going to be pretty hard to enjoy life when the US gets hit by a massive recession and or economic crash.

 

Isn't anyone responsible for creating their Debt? Everyone trying to keep up with the jones's is the biggest problem creating debt. Very few people that I know with debt couldn't live without the things they bought. Most just have lots of big toys, fast cars, nice houses, etc.. That is called living beyond your means. Debt is a problem, but it is due to personal irresponsibility.

Thats right we don't have to take responsibility when there is someone else to blame....

 

Sure someone is responsible Debunked
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
http://democrats.senate.gov/dpc/dpc-new.cfm?doc_name=fs-108-1-410

Bush Budget Deficits Carry Significant Costs

Instead of a temporary deficit that will disappear when the economy recovers, President Bush and congressional Republicans have created permanent long-term deficits. These deficits will have a significant impact on our economic future. We are now seeing hopeful signs of a return to healthy economic growth, although the jury is still out on whether the recent good news will continue. But we have a very resilient economy that, sooner or later, will recover and resume growing at a rapid enough pace to create jobs again. Once that happens, the Bush deficits will begin to hold back our economy. Businesses will see renewed growth and investment opportunities, and increase their demand for investment capital. Meanwhile, the need to finance the deficit will force the government to compete with the private sector for a limited supply of funds. The higher demand for capital will raise its price - interest rates. Higher interest rates, in turn, will dampen the recovery, future economic growth, and job creation.

The long run impact of the Bush borrow and spend economic plan is also troubling. The record deficits will force taxpayers to spend hundreds of billions of dollars a year in interest on the debt, as well as pay higher interest rates on their own mortgages, car loans, and other borrowing. The higher debt burden will inevitably mean that future taxpayers will also face a higher tax bill as a result of the Bush budgets.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

http://www.google.com/search?hl=en&q=Bush+created+massive+budget+deficits&btnG=Google+Search


I wonder who stole the money that the government borrowed.......??? = Halliburton

~~~~~~~~~~~~~~~~~~~~~~~~

 

"Are you admitting to be an alqaida terrorist? "Us" are suspected terrorists. But then that whole argument is shot down"

Not quite true. "US" is American citizens. You may recall they spied on the Quakers, the Sierra Club, and Greenpeace, too. Sorry, I don't think the Friends are terrorists. Nor do I think Sierra's likely to ever be a threat to American lives ... whereas you could lay the blame for that recent coal-mine disaster at the feet of the current administration, which reduced the inspector count and "relaxed" enforcement to the point where it simply doesn't exist. (Their picks for FEMA showed something too.)

If you don't see things that are right there, maybe your sources of information aren't very good. Fox News, for one, has been caught in so many lies per day it's simply no more credible than the supermarket tabloids, and now CNN will be emulating it. As for other networks, the BBC offered its videotape of the 2000-election-throwers confessing; it was rejected, and the story was buried.

There are credible sources of information. Sometimes the major news networks and newspapers do print useful stories. Sometimes I get my news from eWeek! and then there are the BBC, CBC, NPR, and others. All told, one gets a dismal feeling about the current Congress/White House. Also, I do have friends at Homeland Security and they are none too optimistic - nor do they feel that appointing Heritage Foundation hacks to key positions in Iraq and the US has helped (indeed, it's one of the main reasons we are still at war in Iraq.)

As for the Iraq war, terribly profitable though it has been for a small group of people, it has bankrupted the country (along with the various tax cuts for the rich - and I'm not rich enough to benefit!, the deficit rise washes out my tax cut savings), and left us unable to face our real enemies - Saudi Arabia, Iran, and, yes, Al-Quaeda. But then, the fearless Bush has already given in to Al-Quaeda; their main demand was to leave our base in Saudi Arabia, and we've given in and done so.

 

You may want to check them. I did say 300 million, not billion.

Because an NSA spy told me so

There is a difference between need and want. The economy is doing quite well. John Kerry tried to put his own formula together to gage the economy. It didn't work. You can't make it into something it isn't.

http://www.washingtonpost.com/wp-dyn/content/article/2005/05/04/AR2005050402134.html

Hint: People go to work, people pay taxes, money goes in to pay the deficit. People work, people pay bills. People get credit cards and people, not the government, decide how they use them.

Because they don't have a hurricane to blame Bush for.

If average American savings is what you are going to base your "belief" of the economy on, you're in for a long miserable life You should try living in Germany or other European countries with 15% unemployment rates. Would make you appreciate what you have here. But alas, that's the problem with today's youth; they've had everything handed to them on a silver platter and don't appreciate what they have.