Saturday, July 31, 2010

Only WE can fix the economy stupid!!

I am so freaking frustrated with reading/listening to how Consumer Confidence is low, which is why consumer spending is down. Confidence is low? What does this mean? Oh, I don't want to spend any money because the economy is in the toilet. Did it ever dawn on you that you NOT spending money is the problem? Sure savings are higher now, the banks are flush with cash, paying tiny returns and hoarding cash, your cash. They aren't making loans because the economy is bad. Poor folk don't save, they spend all they have. It's everyone else who has extra cash laying around who aren't spending.
I had a conversation with a retiree who told me he wasn't going to make any large purchases because the economy is 'bad'. I said to him, are you nuts? You have a fixed income, prices are rock bottom, the 'bad' economy does not affect you at all, yet you won't spend? What kind of idiots are you people? The economy will not recover as it should unless we start spending again. When we spend, stores have to stock up, meaning manufacturers and suppliers have to hire more people, meaning more people employed to buy more stuff. We need to take back control over our own lives and economy. The government cannot resolve every problem. We need to stop whining how bad things are and do something about it.
As an example, the car industry was in a shambles, now after investment they are back making a profit again. People are buying cars again. This is a small segment, we can do more, do better. So open up your checkbooks and start buying, do your part !!

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