Obama Encourages Saving Your Money Rather Than Reveling in Massive Debt.

Originally posted by vor78

I say 'partially' because he needs to be careful that he doesn't further discourage consumer spending altogether, which itself would be very harmful to the economy.

While i understand this, it is only valid to a point.

We live in the MOST capitalistic country in the world.

You can do nothing in the USA without spending money.

While consumer spending can and does slow, is never shuts down, it is an impossibility.

Everything we own is an object with ;designed obsolescence'.

Nothing lasts and we are fixated with possession and consumption.

Basically I am saying don't worry about the consumer spending, they have us, hook-line-and sinker.

Originally posted by AshleyD
If it's such common sense, why is the government not being more fiscally conservative to plan for our nation's future?

I'm NOT defending the saving of the banks, but I do believe that Obama thought (and still thinks) that saving the banks was necessary to keep our economy from bottoming out and bread lines from forming. He may be right, but I would prefer the breadlines, myself. I disagree strongly with him on that, but I do see his rationale. He saw the only way to save this country from total economic failure was to bail out the banks. It infuriated me and still does, but that's why I think he made that decision.

Just my thoughts on that.

Instead of the smoker analogy, I think of parents going into a huge mortgage debt to give the children a roof over their heads and then telling their children to save their weekly allowance for things they want to buy.

Originally posted by Animal
Save? The future? Economy? What is going on here folks? Does this in fact sound too logical to be true or good? Is this a socialist, communist, fascist scam to enslave my soul and steal my beans?

Time will only tell.

Indeed! And President Obama only had to spend in 6 months what it took George Bush 3 years, to figure out that he probably shouldn't have borrowed all that money for his ridiculous "stimulus".

ROFL, This guy......



Blows 2.6 trillion dollars in his first 3 months alone. Money we don't have mind you....So under his wisdom.... we borrow money to pay off debts.........
.....

Yeah.. This is the guy that goes into debt to pay off debt, which generates more debt, which he then borrows more to pay off that debt all the while using the American Taxpayer as collateral. But, it's ok! He said you should save your money! What a genius! He's the first person to ever think of such a complicated solution!

Give me a break, 9 months ago this idiot was blowing through money like a fat lady in a fondue buffet.

By their deeds you shall know them..

If only someone would have said something before.... before all this happened.......

If only one person would have said something........



[edit on 5-9-2009 by aravoth]

reply to post by Animal


We have no choice but to worry about consumer spending. Its 70% of the US economy. You're right, it'll never shut down altogether, but all it takes is a few percentage points decline and we're in a fairly serious recession.

So again, we need to be careful that we only discourage irresponsible debt spending. If the public gets too tight-fisted with its cash, that, too, could kill any chance of an economic recovery.

It is good advice.

It is also common sense, where everyone knows of this but does not care.

Let me try...

"Criminals, stop doing illegal things. It will help the crime rates in the country."

BAM! Problem solved...

Words are better than actions though when it comes to our government!

Thats a riot, "Now what you people need to do is save your money", meanwhile we'll continue to devalue it to the point of nil". Who does this guy think he's kidding, and giving us advice on saving while he spends our hard earned "LABOR" flying all over heck and back dining his wife and appeasing our enemies.

Mr. President, a recovering alcoholic does not kick the habit through binge drinking. Maybe you Sir should follow some of your own advice which you are so eager to impart on us too "toopid" to figure that out for ourselves.

Just stay in your little glass palace and leave us the heck alone.

[edit on 5-9-2009 by WWJFKD]

Originally posted by SpartanKingLeonidas
your speeches sure are not putting food on my table, your speeches sure are not paying my electricity bill, and your speeches are not giving me anything more than an Excedrin headache.
-eaten by snipmonkey-

Hmm, if your having issues in paying for food or electricity, then clearly your not saving your money wisely.

and ya...in your cotton candy rainbow world, there is no credit card debt and everyone is completely in control of their spending habits.

The average IQ is 100..a IQ of 100 is barely able to balance a checkbook...considering the average is made up of people well below and above that mark, then the majority of people are in fact...financial idiots.

Hell, I would venture to say someone with a IQ of 115 could be challenged into dealing with complex morgage issues, financial planning, and all that alongside a global recession.

A president doesnt have to say good morning either, because the first word dictates what type of morning you will have, and the second is obvious...your entire argument is simply you complaining he said good morning...obvious but said anyways and your having these epic issues with it, which of course makes you little more than a pedantic whiner.

stop reading ATS and go work a second shift would be a personal advice I would give you...try that and see if that puts food on your table and pays your electricity bill...alternatively, you could save your cash verses buy a boat, or 100 conspiracy right wing books.

Originally posted by SpartanKingLeonidas
reply to post by Animal

 

I do not need advice from the President of my nation that is so obligatorily silly as to say I need to save my money, because this is basic common sense.

I am deeply offended that this man is bothering with such small comments and measures so as to suggest we need his advice on common knowledge and basic God given common sense.










I also find this sage advice mind numbingly offensive.
If I had only known my $435.00 Master Card debt was to blame for the state of our economy . My most humble apology to all the people of America ! I am truly sorry

Bernanke states an audit of the FRB will crash our economy ( veiled threat )

Geithner states an audit of the FRB " is a line we don't want to cross"

The purchasing power of the dollar 1913 > 2009 .Yeah the FRB has done an outstanding job. ' The American Institute for Economic Research. But hey put the blame on us, how deliciously evil of 'them'.


www.aier.org...

reply to post by SaturnFX


Wow, for a new member, you sure seem to know people quickly.

I know how to save, buddy, and I am used to working from two to three, and up to four jobs simultaneously.

Work a second shift? Really now, and where would I do that?

I saved money for a long time and guess what happened?

Our economy collapsed and I had to dig in just to keep from getting thrown out on the streets.

I burned through my entire life savings last year, every last penny of it.

So, before you post something so silly, how about you ask questions and get to know why someone is saying something, instead of making a blithe comment.



Back to the topic at hand and the thread.

Saving money and getting into credit card debt is something minuscule and is something President Obama does not need to say, and his cotton candy words, rainbow dreams speeches, and gumdrop smiles are nothing more than fluff, with about as much nourishment as marshmallow fluff in a fluffernutter sandwich.

Action speaks louder than word, Mr Obama, and it is high time to take the proverbial crap, or get off the pot.

Speeches and speech giving are all well and good but the nations does not need to hear words, words do nothing than give off a lot of hot air, and failure to commit to an action will only necessitate action by other people to do something to get you replaced when the next election comes up in 2012.

So, I have to wonder if this is all Obama doing nothing, or if it is in fact the Republican party trying to paint him out as a lame duck, not that I am accusing them of anything of that nature but one has to wonder who is really running the show, the puppet or the puppeteer.

The idiot president Obama speaks therefore its law , lets spend another trillion dollars .

reply to post by Dr Love

At the rate of inflation we better save all we can, because by next year it'll be worth half that.

That is the wrong thing to do.

If inflation/hyperinflation were to happen, then the ones who suffer most are the ones who were 'wise' with their money and saved, as the value of their savings exponentially decreases against the retail price index (RPI).

On the contrary, in light of any inflation/hyperinflation on the horizon, you would be wise to expunge all monetary assets for tangible products like canned food, toilet rolls, silver, gold, etc, etc.

So i say spend, spend, spend!!!!!

p.s. as a caveat, i would also advise any and all to take anything politicians say and do exactly the opposite; you then know you are looking after number one.



[edit on 5-9-2009 by PrisonerOfSociety]

Originally posted by SpartanKingLeonidas
reply to post by Animal

 

I do not need advice from the President of my nation that is so obligatorily silly as to say I need to save my money, because this is basic common sense.

Considering how many fellow Americans have forgotten about common sense I wouldn't mind if Obama abandoned all his plans and just went around teaching common sense to people. Not only would he not be able to screw things up more than they are but he'd actually be able to accomplish some increased common sense!

Sounds like we have an economic war going on with China. With recent news that China will not be honoring contracts and now this. When the government is telling it's citizens to save money then you know something is up because they have always said to spend spend spend.

This could also be looked at as a way to boost the banks capital. Telling everyone to save could mean to some, start a savings account. Go put money in the bank. With all these banks failing you never know. Obama loves his banker buddies from the fed to Goldman Sachs.

[edit on 6-9-2009 by cloakndagger]

Originally posted by Animal
The Link

Oh Noze! Here he goes again, that wacky socialist super hero Barry Obama is taking on the current paradigm of the USA. Could this be his last battle against the powers of corporate dominance or could this wacky adventurer defeat his nemesis 'greed' and save the people of the USA for spending themselves into the streets?

"If you work hard and meet your responsibilities, this country is going to honor our collective responsibility to you: to ensure that you can save and secure your retirement," Obama said in his weekly radio address.

Sounds like good advice to me, but based on my experience there will be many who think he is overstepping the boundaries and that this action is somehow meant to 'indoctrinate' we the people into believing we can't spend our money with reckless abandon in preparation for the coming socialist, communist, fascist state.

Don't forget, he also encourages to buy americans.

But ah, who cares, people are not gonna listen to that saving or buying american stuff thing, it's much more fun to figure out his communist and his muslim root, or his fascist plan, or his birth certificate. Why? So people can point at him and say, "Why do I need to change, he's the president and he's not even the real deal."

Let me get this right obama wants every one to save there money instead of spending it.

That means companies will not have money to hire employees and manufacture products. nor will they have reason to if there is no money to be made.

Without companies being able to sell there products there will be more people becoming unemployed and even less people buying products.

This will lead to more unemployment and even less money to spend.

This will lead to more cheap products from Asia replacing US made products and even more job loss.

All this will lead to a long and deep recession that may take years to end.

Obama must have taken his economic training from someone that hates america.
If no one build any homes because everyone is saving there money and not buying homes there will be no new home construction and even less jobs.

For every unempolyed worker there is a loss of money paied in taxes and less highways repaired and built less money for schools . less state money for road repair. police protection ECT ECT ECT.
This means even more jobs lost.

and if people save instead of buying the states will lose sales taxes and have to lay off more state workers.

If people follow his advice we will still be in this recession in 4 years and the democrats will be blamed for wreaking the US.

HOORAW for the democrats, Obama is the best thing ever to happen for the Republicans.

Being that i am a republican and love everything the democrats do that make things worse this takes the cake for the biggest stupidity done yet by the democrats.

Any one out there that can tell me how "Everyone Saving there Money" will get the US out of this recession should speak up so the rest of us will understand how it could possibly work to end this recession and get this country working again.



By the way i live on a government disability so i don't have to work and this recession has been a boom for me as everyone that has lost there jobs and needs money is holding yard sales where i buy what i want for pennies on the dollar. but that is not going to end this recession.

[edit on 6-9-2009 by ANNED]