reply to post by SeekerofTruth101
Sad to say, and rather bluntly, you sir, are talking BS, without even any attempt to comprehend the reality of what had been to us all
Sir, where was I in '08? Oh, I was sitting under a hedge of protection I created for myself because history tells us market crashes, recessions, and
hard times happen. I see dozens of posts here on ATS about being prepared for calamity. The warning signs are everywhere. No, the people here who
are complaining about their foreclosure, losing their jobs, and so forth did not prepare accordingly. Do you know what my reality is? My reality is
budgeting and spending as little as I possibly can so that I might save as much as I can so that I have hedged myself against calamity. I will
repeat, history tells us that this is the only way to protect ourselves because the rug ALWAYS is pulled out from under people. Why can't people
figure out that in their lifetime at some point something really bad will happen that will threaten them financially? Why can't people figure out
that it is just a matter of "when"?
People get into this mindset that everything will be rosy all the time. Green shoots and candy for everyone! Yay for the "la la land" of ipads,
iphones for the whole family, flat screen TVs, No, I freaking know better than to not be protected, and I freaking don't even have a family. If I had
people to take care of I would be even more careful.
The real reality is just like every single time before a recession occurs, people are enjoying their massive prosperity and using it to fund their
lifestyle paycheck to paycheck. Did you know that the savings rate of America is -1%? The people of the United States spend 1% more than they make
each year. That is freaking ridiculous. The average American has $10,000 in credit card debt. That is freaking ridiculous. The average car you see
going down the road is carrying a $350/m car payment. That is freaking ridiculous. Oh, and the statistics were the same before the 2008 crisis.
Nothing has changed............and you are saying I'm BSing?
No wonder there were millions of foreclosures and suffering people. The average American was spending more than they made every single year. I am
supposed to have sympathy for them compared to the banks / credit card companies? They are one in the same.
Yes, I have sympathy for the plight they are now in but there is no way I'm going to side with the American people when they were the ones who
facilitated the problem with their lifestyle and lack of saving. How should I feel when I see people who are making the same amount of money I am
living in homes that cost $100,000 more than mine, buying iphones for the whole family, driving bran new cars, spending thousands at Christmas time,
pulling out their credit cards to pay off other credit cards. That is the reality of America and the statistics prove it. The ball is in your court
to show me how "responsible" Americans have been with their money. Show me something that tells me how frugal, wise, and pertinent savers Americans
have been. Show me where the wisdom is evident...........like I said the ball is in your court to show me that what I spout is BS. Otherwise start
saving more and typing less.
note: Sadly, the above statistics also take into account 401k contributions, which are used for retirement. So the real savings rate is quite a bit
worse than the above statistics.
Notice that personal saving rates went negative in 2005. Surprise, surprise, surprise the recession hit a few years later. Must have been the fault
of the big bankers brainwashing the people to make stupid choices with their money eh?
...........kind of odd that over these years my
debt has stayed at $0.00 and my savings rate stayed above 50% on a $28k salary. Sorry, but I'm extremely happy I can't relate to the average American
because if I could I would have to call myself out for being unwise.
edit on 21-4-2012 by Bugman82 because: (no reason given)