Recession coming

[The Leaper]

People with deep pockets can often ride-out specific losses and get much richer in recessions and depressions.

It is not about deeper pockets...it is about being relatively free of debt.

In a credit crunch, those who do not rely on the accumulation of debt to finance their lives are at an advantage. Those who rely on an accumulation of debt live outside of their means...and it is difficult for those people to survive when the belt needs to tighten, even if they have the ability to produce a large cash flow for themselves.

[Harlan Huckleby]

I don't know shit about this stuff, I'm just faking it.

[Tyrone Bigguns]

People with deep pockets can often ride-out specific losses and get much richer in recessions and depressions.

It is not about deeper pockets...it is about being relatively free of debt.

In a credit crunch, those who do not rely on the accumulation of debt to finance their lives are at an advantage. Those who rely on an accumulation of debt live outside of their means...and it is difficult for those people to survive when the belt needs to tighten, even if they have the ability to produce a large cash flow for themselves.

Umm, who the eff doesn't use credit. That is what made this country great.

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

[The Leaper]

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.

[Tyrone Bigguns]

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.

[red]

one thing no to forget is the mass amounts of outsourcing, or companies just opening factories in other countries

these companies can still post decent numbers, they are making money and showing good gains. but the only americans that are making money are the stockholders and the very upper management. they take the money from americans by selling their products, but don't reinvest in this country, or supply any american workers with money that they can then spend in the market

i'm not sure if this would make a bad economy look better then it is or not

but its something to consider.

if american companies don't have american workers, sooner or later on a long enough time line americans will no longer have the money to buy any of those products. even if those companies are showing large profits

[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.

[Scott Campbell]

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

Start a poll.

[Scott Campbell]

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.

I use plastic for virtually every purchase - for the convenience and the audit trail. But it has little to do with debt. Lots of people pay off balances in full each month.

[MJZiggy]

Me too. And I don't live beyond my means either.

[Freak Out]

I put everything on my Alaska Airlines visa......home and business. But it gets paid off every month. Were not going to spend our way out of this one folks....that's the problem right now with our Government. Spending money we don't have.

[Partial]

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.

I use plastic for virtually every purchase - for the convenience and the audit trail. But it has little to do with debt. Lots of people pay off balances in full each month.

Correct. It is simply for conviences sake. It's a scary thought though that people have come into Sears to pay their bill and have had as high as 31k in debt on a 26% card. Talk about a DFI

[Partial]

I put everything on my Alaska Airlines visa......home and business. But it gets paid off every month. Were not going to spend our way out of this one folks....that's the problem right now with our Government. Spending money we don't have.

Correct, but you are a democrat I would guess from the posts that I've seen and if you haven't noticed, there plan is to take the money out of iraq and give it to the ungrateful poor and for universal health care for the poor, so guys like you and me who earn over the threshold have to pay into that as well as get our own private insurance.

[MJZiggy]

Where the hell do you get that? Universal means universal. Like for everyone. And please explain to me what keeping troops in Iraq is getting us that's better than healthcare for everyone?

[Partial]

Where the hell do you get that? Universal means universal. Like for everyone. And please explain to me what keeping troops in Iraq is getting us that's better than healthcare for everyone?

Listen to what Obama has to say. It's keeping myself and my family and my friends from being blown up.