Please don't spend...De-Leverage Instead.
I just read an article on CNN Money that basically predicts that it will take another 6-10 years for our economy to get back to "normal"...whatever normal means.
It points out the main reason is due to private or "consumer" debt. So my hope is that those with high debt focus on paying it off asap instead of buying "stuff" like many are conditioned to do.
So whether one is wondering about the value of their home or the value of their retirement investments, neither will make strong gains until citizens de-leverage their debt. If you believe spending helps our economy, it does, but only if you're not in debt.
America's own 'Lost Decade'
Lost decade: Debt fuels slow economic growth, unemployment - Jun. 8, 2011
"NEW YORK (CNNMoney) -- The economy is still struggling. And Americans are in for a long and painful adjustment period.
One major reason: their own household debt.
"I think we're in for a lot of disappointment," said Carmen Reinhart, a senior fellow at the Peterson Institute for International Economics and a leading expert on financial crises. "If historic norms hold, deleveraging isn't pretty, and it is not a smooth process. We're already four years into this. I don't think the next six years look great."
|All times are GMT -5. The time now is 01:17 PM.|
Powered by vBulletin® Version 3.8.7 © Copyright 2000-2012. PatsFans.com Is a Partner of USA TODAY Sports Digital Properties. This site is owned and operated by I&K Internet Design Enterprises, LLC
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
Search Engine Optimization by vBSEO 3.6.1
The opinions posted in this forum do not necessarily reflect the opinions of our staff at PatsFans.com or USA Today.
We are not affiliated with the New England Patriots™ or the NFL™. The Photo Used In the header was taken by Ian Logue.
© Copyright 2000-2012. PatsFans.com Is a Partner of USA TODAY Sports Digital Properties.
This site is owned and operated by I&K Internet Design Enterprises, LLC