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Good news looks like Americans are starting to get it again. We now have the highest savings rate we've had in the last 15 years!!
While this is bad for stimulus it's great for the common man to have a little safety net AND by keeping that money from going back into circulation it will help stem the tide of inflation.
I've been preaching the gospel of rainy day funds for all that would listen and now I'm getting my wish.
Kind of ironic isn't it? The more effort you put into building your safety net, the greater the chance is you're going to need it.Quote:
Originally Posted by killersheep
I'd rather have it and need it than leave everything to chance.Quote:
Originally Posted by CGMKind of ironic isn't it? The more effort you put into building your safety net, the greater the chance is you're going to need it.Quote:
Originally Posted by killersheep
Well yeah, me too, I was just pointing out the paradox. Like most paradoxes, there's no good solution. Anyways, it's no secret that consumer confidence is one of the bog unknowns in trying to navigate an economic recovery.Quote:
Originally Posted by killersheepI'd rather have it and need it than leave everything to chance.Quote:
Originally Posted by CGMKind of ironic isn't it? The more effort you put into building your safety net, the greater the chance is you're going to need it.Quote:
Originally Posted by killersheep
I agree it is interesting though, what is good for the individual is rarely good for the economy as a whole.Quote:
Originally Posted by CGMWell yeah, me too, I was just pointing out the paradox. Like most paradoxes, there's no good solution. Anyways, it's no secret that consumer confidence is one of the bog unknowns in trying to navigate an economic recovery.Quote:
Originally Posted by killersheepI'd rather have it and need it than leave everything to chance.Quote:
Originally Posted by CGM
hmm. there's an interesting topic for debate. Have you ever read much by Ayn Rand? In particular her book The Fountainhead, in which the primary premise is that the economy as a whole is best served by everyone acting in his/her own best interest? (Maximizing their own utility). IMO she takes things a little too far, but there is a lot in what she says. In general I support capitalist principals and self interest as being in the best interest of the economy as a whole, but it isn't quite that simple, and I'm not sure how savings fits into all that.Quote:
Originally Posted by killersheepI agree it is interesting though, what is good for the individual is rarely good for the economy as a whole.Quote:
Originally Posted by CGMWell yeah, me too, I was just pointing out the paradox. Like most paradoxes, there's no good solution. Anyways, it's no secret that consumer confidence is one of the bog unknowns in trying to navigate an economic recovery.Quote:
Originally Posted by killersheep
Haven't made the plunge into the Ayn Rand books yet. I'm reading The Baroque Cycle right now, that will keep me busy for a while.Quote:
Originally Posted by CGMhmm. there's an interesting topic for debate. Have you ever read much by Ayn Rand? In particular her book The Fountainhead, in which the primary premise is that the economy as a whole is best served by everyone acting in his/her own best interest? (Maximizing their own utility). IMO she takes things a little too far, but there is a lot in what she says. In general I support capitalist principals and self interest as being in the best interest of the economy as a whole, but it isn't quite that simple, and I'm not sure how savings fits into all that.Quote:
Originally Posted by killersheepI agree it is interesting though, what is good for the individual is rarely good for the economy as a whole.Quote:
Originally Posted by CGM
I don't agree with the everyone acting in their own self interest provides for the best in society. For one thing, there are a lot of fundamental jobs that wouldn't be performed, who WANTS to work at the dump?
i habe taken a year off work to look after my daughters while my wife has returned back to work & after looking after a two & half yr old I can say that working at the dump sounds a hundred times better & 100 times less stressfullQuote:
Originally Posted by killersheepHaven't made the plunge into the Ayn Rand books yet. I'm reading The Baroque Cycle right now, that will keep me busy for a while.Quote:
Originally Posted by CGMhmm. there's an interesting topic for debate. Have you ever read much by Ayn Rand? In particular her book The Fountainhead, in which the primary premise is that the economy as a whole is best served by everyone acting in his/her own best interest? (Maximizing their own utility). IMO she takes things a little too far, but there is a lot in what she says. In general I support capitalist principals and self interest as being in the best interest of the economy as a whole, but it isn't quite that simple, and I'm not sure how savings fits into all that.Quote:
Originally Posted by killersheep
I don't agree with the everyone acting in their own self interest provides for the best in society. For one thing, there are a lot of fundamental jobs that wouldn't be performed, who WANTS to work at the dump?
People should always looking to put away some money every month. There is no excuse for living beyond limits IMO. I have to listen to boring family members all the time talking about how they have no money and it's boring. They talk about kids birthdays and how they are going to buy new phones and pay the kiddies bills and wonder why they have no money. Spend, spend, spend and no consideration of what the future might hold. They just don't get it! They all have things I don't have such as cars, children, Amir Khan fights on PPV, weekends away, 3/4 bedroom houses etc etc.
And there is boring old me studying until nearly 30 and delaying having kids just because I want to live a life with a modicum of planning, consideration and opportunity. Not quite America I am talking about but a lot of similarities between the US and the UK.
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Originally Posted by miles
as if a kahn fight is some luxury.......... If it is, it is pretty fleeting.
I would never pay to watch Khan. But it highlights one of the things people with no money should not be trying to fork out for either.Quote:
Originally Posted by boozeboxerQuote:
Originally Posted by miles
as if a kahn fight is some luxury.......... If it is, it is pretty fleeting.
It's a good thing people are saving more. I wish a lot more people would do the same. Admittedly, it's probably been tough for a lot of people this last year, but people should always have something for when times get tough.
I took 6 months off from working full time and I was only able to do that because I had been careful for a good while.
Save up all that money, once we get Cap and Trade we'll need it :shakehead:
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Originally Posted by Lyle
Reliable Lyle, the eternal pessimist, can turn any thread with positive intentions into a political squabble.
Regardless people should be saving anyway, doesn't matter the circumstances.
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Originally Posted by miles
Very good points, people are so out of touch of what's essential.
Quote:
Originally Posted by killersheepQuote:
Originally Posted by Lyle
Reliable Lyle, the eternal pessimist, can turn any thread with positive intentions into a political squabble.
Regardless people should be saving anyway, doesn't matter the circumstances.
I agree with Lyle on this one. Cap and trade for us or Australia is pretty fucking stupid to get involved with. And I am an environmentalist.
Just dont have fucking kids. That is my simple solution. Cut the population by 70% and we have instant greenhouse reduction.
If your interested in Ayn Rand have a play of bioshock (yes a game). The whole game is basically a critique of her works. Very interesting, particularly if your interested in the political philosophy of it.
Saving reminds me too much of my Dad. Not that I hate my dad but still. I just can't do it.
Not that I use credit cards much or anything but I've never been a rainy day person.
You should bro, even if it's just 5 bucks a week. It adds up, and life has a way of punishing those that don't save.Quote:
Originally Posted by OumaFan
Not trying to get on you too much, but there is no reason not to save.
Well just in general I'm against rainy day stuff but its kind of pointless now as I'm still working my way through graduate school so I don't have much to save anyway.
My nod to fiscal well being is not using credit cards and avoiding debt in general. I don't have any right now actually although I'm sure that will change at some point.
Check that I have some student loans left but oh well, nothing I could do about that.