Recession coming

[red]

I don't know the figures, but i'd love to know what percent don't have debt..or extreme debt.

I'm sure you could almost count the number without any debt on one hand.

What I'm getting at are people who use debt to live beyond their means...paying more than 40% of your monthly income toward your home and/or using debt to finance common big ticket purchases. If you have the coin to afford the debt you are taking on and do so because you can get a good rate on it, I don't think that is necessarily living beyond your means.

People who train themselves to use cash rather than plastic are typically the ones who are better off in a credit crunch.

And, who doesn't live beyond their means in this country? Take out the depression era folks who have an apocalypse could happen any minute mindset and there are very few.

This country has a poor savings rate..and that is being kind. Perhaps you might wanna talk to our prez who told us the best thing we could do was to spend.

this is exactly what you're suppose to do to get the economy going again. usualy if people spend, companies make money, and that money funnels to the workers in terms of wages, that they then reinvest in the economy.

however if we spend more now, that money just ends up going overseas, and doesn't help the economy much at all, except for a a handfull of people.