Savings Rate at Lowest Level Since 1933

The inflation goal should be set on 10%-20% instead of 1%-2%!!
Inflation is healthy in the long run because it drives up consumption and kills the noncreative peoples savings.

 

You got to be insane man!

When Jimmy Carter was President interest rates were 21% because of inflation and they had to raise them that high to keep the banking system from collapsing because overseas investors were pulling money out of USA banks so fast because of the devaluation of the dollar!

How old are you and where did you take economics

 

100% true, according to the NYT pre-book sales article they released. In fact, I don't recall mention of any of those groups. "Us" were terrorist suspects.

Would reply to the rest, but it seems opinionated and of no significance.

 

Gtech You typed "300,000 million." A thousand million is a billion, so 300,000 million is 300 billion! I'm just going assume it was a typo.

If Americans aren't saving, and they are on average in high amounts of debt, then what else do I need to base the economy on?

I do appreciate what I have here, thats why I'm warning people that soon we won't have anything. The US will eventually get to 15% unemployment rates.

Why do you keep trying to defend against the obvious? The US is getting millions of legal and illegal immigrants per year, and the IT jobs are going to India and China. You don't have to be a professor in economics to see where this is going.

The Illegals aren't paying taxes, and are being payed slave wages under the table. Americans have high debt and are saving less, and jobs are going overseas. You'd have to be blind not to see that.

I guess once the country completely falls apart you'll see it then.

 

Fair enough, I did. I meant 300 million.

Oh, I don't know...reports that come out monthly that shows it's ups and downs from months to month? Those have been pretty positive though, so you might not have any interest in them.

Do you feel anyone is heeding your warnings? If you answer honestly, then why do you not feel they are heeding your warnings? So your contribution to society at such a young age, is to warn the world of pending doom and gloom that only you can see?

Defend what? That the sky is falling? That young angry white males with low IQs have some innate ability to see imminent and pending doom and gloom that the rest of the world is oblivious to?

Illegals have never paid taxes, they have always been paid lower wages. Americans have always had debt, it's part of a capitalist society. All my years growing up (long before you were born), no one in my family or that I knew had any massive savings accounts. Blind? As if this is some magic new revelation that you tripped over last night on your way to the all-you-can-eat buffet? Please!

Well, that will sure teach me

 

The problem for GTech, Will Spencer, Henny, Debunked and the rest of the Nixon lovers on this board is the fact that they go silent when presented with evidence of economic destruction Bush policy has caused.

http://forums.digitalpoint.com/showpost.php?p=605313&postcount=23

The 700 club gang really do have a hard time explaining to GM & Ford workers (as the President will tonight in the State of the Union address), how they are going to survive as a result of losing their jobs to oil fraud!

Now they face the possibility of suicide and walking the streets when they lose their homes!!

Bush will go down as the biggest disgrace to this nation since Nixon!

 

They are both the Same ...Too much Pork Barrel Projects for both Republican and Democrats .. you wanna save money, eliminate the pork barrel and
save 100 billion or more, but unfortunately the politicians wont do it.
they have forgotten that the People voted them in or the moment they swear in , they forget what they have to do to serve.

 

That's crazy..prices for a can of pepsi would go up to $5 a can.
think the normal person can afford that ? I can see rioting in big cities.

 

Illegals have never paid taxes, they have always been paid lower wages. Americans have always had debt, it's part of a capitalist society. All my years growing up (long before you were born), no one in my family or that I knew had any massive savings accounts.

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in the few hundred years since this nation was founded, I believe
we only had 5 total years of trade surplus ..

Americans do have high debt, but the economy is
doing pretty well. what we have do do is teach money skills to the kids and maybe the next generation can
have higher savings rate.

 

Did I miss the part that said Bush was the CEO of Ford and/or GM? Did I miss the part where a president takes the fault of companies that fail? Does that mean that other automakers in the US that are doing better, give credit to Bush?

What brand of foil does one use to conclude that some mysterious "oil fraud" is the reason companies cannot turn a profit? Is there no personal responsibility? 700 club? You are deranged, no doubt!

Yes, Bush was so smart, that he not only stole one election, but two in a row. He also is so smart, he cleverly planned 9/11 and only a handful of people are above the average citizen are able to see it. In addition, he also stood aboard a boat in the Gulf, grabbed his kahones and sequestered a massive Hurricane and also single-handedly took down two auto companies. He also stole oil (even though it doesn't exist). According to you, Bush is a literal genius who can sprinkle pixie dust on a greasy taco and turn it into a prime rib dinner. I can't believe all the credit you are giving him, but ok!

The way you make it sound, he'd put David Copperfield to shame at an illusion stand off!

 

Well GTech, your side can't defend the destruction of GM and Ford now can you

How will Bush feel when he costs the Republicans majority control of congress in 2006 when these autoworkers put their asses out of office

Bush is the one that needs to lose his job by being impeached for this crimes against the citizens of the world!

 

Bush is bad.. BLABLABLA.. and you fail to mention all terrorattacks that he saved you from. Shame on you!

 

I never said that it should be over 20%. I said it should be between 10% and 20%. And a high inflation doesn't always mean that people pull out money. Look at Russia, high inflation but People put in their money to that country. The ruble gets stronger every year.

The high-growth period on the Channel islands came when inflasion was over 10% and ended when it's got down to normal again.

 

I said that interest rates rose to 21% as a result of high inflation in the Carter years, not the rate of inflation!

 

aha, sorry for the confusion.. anyway, such actions is neccesary when the inflation get out of the pocket, it should not be more then 20%. And it doesn't matter if the foreigners sell their dollars, the growth factor is much more important.

 

It does matter if they lose confidence in the USA government, with our run away deficit if China and Japan pull money out of US Treasury bonds the entire banking system would collapse and we would have a major stock market and real estate bust leading to depression!

 

Nope, sallaries gets higher before the prices, it creates a higher consumption which leads to lack of storage, the producer responds the high demand by increase the production and the prices. When they increase the production, they usually have to hire new people which leads to shortage on workforce, which leads to higher sallaries and so on.

 

When companies go broke like Ford and GM are now because of high oil prices we go into deflation, not inflation!

You can't get high wages when there are no jobs and when you have to compete with China!

 

China would get a huge problem in getting rid of all their worthless dollars, the stockmarket would fall to a new record low, but who cares? Everyone but the shareholders is winning on it.

Iran has a 7% growth despite of all their political issues and hard-die beurocracy. It's the inflation.

Tell me one country with a 7% growth(or higher) and a low inflation.

 

How would the deflation solve the oil crisis without hurting the generall growth?