How the Savings Rate Could Hobble the Economic Recovery

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Well, Purchases Tracker has helped my family take control of our spending and we were able to see where we were spending our money. It helped us to cut out those purchases that we did not realize we were making and we have moved that money over to our retirement accounts. We are now back on track for our retirement, thanks to the iPhone app, Purchases Tracker by Suburbia Apps.

Richard of CT 12:41PM May 07, 2012

Even though I do not accredit the public's savings rate as much as I contribute government's manipulations and misreading of domestic events and interference of basic economic factors and theories that are proven repeatedly over time to work, I do see that this point has credence. And I appreciate the fact that you are making it a point. It is not often these days that leading economist even, bring up this point. It is a historical fact that our stability, economically speaking, induced a greater sense of confidence back 40 or 50 years, when savings was a more acceptable alternative to accumulating great personal economic deficits by obtaining access to bank funds by means of a credit card.
And I absolutely agree that a consumer driven recovery is not just a means to a recovery, but also gives a strong indication how people feel about their lives in general. This was true back then, and still is in today's economy. However. through observations over the decades I have found a few differences in attitude. There is one I would like to emphasize in particular; the banks "pressure" for people to obtain credit, an attempt that has turned into a collective commercial roar from most banks. To be perfectly clear I am only referring to personal "consumer" credit, not commercial lending. "Free money" is a pit, and as most people find out not free, at least for the ones that responsibly pay it back. Something important is lost in this transition however; the value of a dollar earned and a dollar amortized. It takes work to make both efforts successful. All the values that go into these efforts are things like determination, honesty, integrity, determination and hope for a better future because we chose to "do the right thing".
Like a virus, greed has the innate nature of corrupting "good and lasting" values, it's like a virus gradually contaminating all of society leaving us breathless and starving, totally dependent on "the virus masters", the ones that have taken over it's nature and made it their own. Who am I talking about? The banks, that created and agenda based on their own greed to fleece consumers by offering "easy money", yet the same ones that Squeeze the average business out of business by restricting credit. The very same culprits are responsible for manipulating our money supply, our financial markets and our currency. Anyone, who would take the time to do some research would find these suggestions to be facts.
The answer to our current economic problem is not only economic measures. It is to initiate a campaign to arouse the American consumers to realize that they are the masters of their own destiny, not through spending their own resources, but to preserve them. To make them understand that nothing operates in a vacuum, and that all current events have a link some place, it is just a matter of finding it, learn from it and become independent from government, banks and anyone that proposes the idea that something is for free. It's a lie

steve land of CT 4:02PM March 01, 2012

so you say consumers do not have the resources. Then who does. You imply government is the only one who has the resources...But why do they have the resources....Let's try this reasoning....We, the People of These United States.....hmmm sound familiar are being taxed to death (now with representation), inundated with regulations, told to save money while government continues to spend trillions of many they don't have...but can get it by printing it (gee wouldn't it be nice if us peons could do that), and tax "the rich" and business into oblivion....and use that money to bail out companies like GM, AIG, Walstreet Mogels....and then put these same people in government positions of power i.e. former CEO of GE is now on the presidents advisory staff......and then....because we the people have become slaves to the government....ie welfare, SS, medicare, medicaid and now ObamaCare??? we "need" to become beholding to even more government....somewhere you educated editorialists in the media always fail to tell..."the rest of the story." Thanks for your time....or should I say my time in writing this which has a high probability of not getting published as your thoughts determine what is acceptible for "We the People...." to read YES.....slavery unfortunately is alive and well and government is the biggest slave owner and has the largest plantation to go along with it. libs and repubs alike need to be kicked out of office.....unless they support the U.S. Constitution as written...not by bypassing it.

d toomon of WI 9:16AM February 25, 2012