Posted on 02/27/2012 6:49:58 AM PST by upchuck
Edited on 02/27/2012 6:51:05 AM PST by Admin Moderator. [history]
More American households are falling back into the debt hole, this time without the safety net of home values to help bail them out, the New York Post reported Sunday.
Last year, total US consumer debt reached its highest point in a decade, according to a credit card industry observer.
(Excerpt) Read more at myfoxdc.com ...
Don’t tell that to CNBC. They are reporting that the economy is taking off and that Wall St. is doing great. If the Republicans should happen to win the election, then they’ll be singing the blues and everything will be rotten again.
Loading up the cards before they file bankruptcy.
>>Live a debt-free life. Nothing finer. Learn patience and restraint.
Then this article isn’t about you. Its about the people who believe the leftist media hype about the “recovery” and start thinking that they should start spending again, even though they only make a fraction of what they used to make. It was just depressing to hear people who have taken lesser jobs talking about “giving the kids a great Christmas” when you know its all going on the plastic and there’s probably a bankruptcy in their future this year.
We live in a sick, depraved nation where fuel and food don’t count towards inflation, people who give up looking for jobs aren’t unemployed, and it’s a “recovery Christmas” when its all bought on credit. Is anything about our country honest anymore? Anything?
ping
You're right. And I thank the Good Lord on a daily basis for my blessings, financial and otherwise.
People just following the government’s example.
Ain't that the truth.
The MSM buttboys are also the butboys.
I remember as far back as Reagan the good NEWS would be reported as..
'The US exports rose to its highest levels last month, BUT..(add bad news here).
Only happens during repub administrations.
Excellent point. Thanks. Of course the gvt has a big head start: they can print money at will.
About 5 yrs. ago I finally got in the position of having paid off the few credit cards I have. Nice.
I still use them. There are certain advantages to using them, ie. warranties, disputes.
But I pay them off at the end of the month.
After awhile you get into the mindset of whether you have the money to buy something or not. You forget about installments.
Good for you! Feels great, doesn't it?
+1
30 years of hard work and happy (if not fancy) living means that the wife and I now have two houses fully paid off and enough invested in a very diverse portfolio to be stress free. A lot of people think that F.U. money involves millions of dollars. It doesn’t. Happiness is a choice that many people seem unwilling to make.
I'm enjoying following that advice. We have no mortgage, no credit card debt, no car payments, no debt at all. If I want it, I can buy it, but that means there is no thrill in buying the trash that commercials are trying to sell us. "Man does not live by bread alone". We are not denying ourselves anything we desperately need or want, but neither are we defining our lives by the stuff and toys we accumulate. My life is centered on my wife, my kids, and my friends - and, as you say, that is as it should be.
>>Live a debt-free life. Nothing finer. Learn patience and restraint.
It’s a shame we can’t get most of the country to live by that simple rule. But they believe in the media’s version of “the American Dream” which is to “own all the stuff”.
You just can’t explain to them that sitting in an empty house but being free of government, banks, and most of all debt, is the real dream.
You even see it in church when some guy is saying that he can’t afford to tithe because there just isn’t enough money and his 8 year old has a $100/month iPhone 4S (because the 4 just didn’t have enough features, of course!).
I’ve got my basic supplies stored up, so this year I am focusing on my debt. I’m not putting any more in my retirement account until I get the credit card (which I haven’t used in forever, but which still carries a balance too large for comfort) paid off. I’d rather pay it now and not save for retirement than have to pay it in retirement with what little I’ve saved. (That is... assuming I’ll ever get to retire.) Besides, who wants to add more money into a rigged market and 401K system that they’ll end up stealing anyway?
Damn right. Desperate.
Yep! Zero debt other than a mortgage that is well above water. More than anything it gives a good peace of mind.
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