I do not understand why people in the US are being urged to spend money they do not have. I have read that the housing market is really bad in the US
and that people in 'mortgageland' are doing it tough, I have also read that there are many mortgagee sales with people selling their homes way under
value.
In Australia we are experiencing increasing interest rate rises, people are also selling up, the housing market is dead and the cost of meat, fruit
and vegetables and petrol is absolutely rude.
Our economy is booming with the growth in mining on the westcoast (Western Australia) and in Queensland. Our $ is doing well and is worth
about US 94 cents now (in the past only about 60 cents).
I am not an economics whizz by any stretch of the imagination but when I look at how strong our economy is compared to the US, urging Americans to
spend more just seems illogical and very unrealistic.
just my 94 cents worth....
take care all
res
[edit on 13-3-2008 by resistancia]