agenda driven MSM likes to keep this kind of thing quiet!
Posted on 09/30/2012 1:40:43 PM PDT by sopwith
WASHINGTON (MarketWatch) — Everyone knows America has too much debt. What they don’t know is that things are getting better, not worse.
Little by little, our economy is reducing its debt burden, slowly repairing the damage caused by 10, 20 or 30 years of excess.
If you want to know why economic growth has been so tepid, here’s your answer. Four years after the storm hit, the economy is still deleveraging. And it’s very hard for any economy to grow when everyone is focused on increasing their savings.
(Excerpt) Read more at marketwatch.com ...
It is BS!
Spending ones way out of debt is like screwing ones way out of having AIDS
Obama plant!!!Pay no attention to that man behind the curtain!!!
Fact check and investigate Nutting’s background. Probably has ties to the current administration or Obama’s cronies. Don’t believe it for a second; too many indicators of financial collapse evident at present to do so.
ok that gave me a chuckle
Correct. Something like 2/3 of the private debt reduction is due to mortgage foreclosures.
Paying off debt and declaring bankruptcy may be counted the same by this article’s metric, but which would you rather see Americans doing?
It appears Nutting is nothing more than Obama’s propaganda spinning machine for all things related to the economy:
http://directorblue.blogspot.com/2012/05/obama-propagandist-rex-nutting-gets-b.html
http://article.wn.com/view/2012/05/30/Plenty_of_Nutting/
http://frontpagemag.com/2012/ann-coulter/figures-dont-lie-democrats-do/
Just lying on orders from his CIC der Führer
“you want as much debt as you can service reliably — pay it off in fake Obama Bucks.”
That is assuming that in a wildy inflationary period, businesses and governmental employers will increase the wages of their workers so that a lowly social worker or some janitor will get a million dollars a week that will just cover expenses that 600 dollars a week used to cover.(ala Germany in the late 20’s, except that our wheel barrows full of cash will be electronic debit cards).
I think they’ll try instead to keep wages low inspite of inflation or they’ll just go out of business and more massive unemployment will pile up. One’s unpayable debts may be used as an excuse to enslave and take away the freedoms of the the populace. Prices for durable goods and electronic trinkets and toys will drop because no one is buying them while food and fuel prices will go beyond atmospheric in scale. Gold and silver won’t be enough to buy food and fuel.
Some folks may think that the biggest assests will be the food,fuel, and guns they have squirreled away; yet I think the most priceless assets anyone will be fortunate to possess will be trusted frieds, family, and allies! Good people will need to be able to secure relationships with other good people in order to survive what is coming, even if there will be little at first that can be shared in common between them. Our love for one another has grown cold; can it ever be reignited again?
Maybe because people walked away from their mortgages?
Well put. and nice tag line.
The private sector is deleveraging due to not having confidence in the economy. Paying down private debt instead of investing is a fortress mentality and will continue as long as the President is for higher taxes / big government / anti-business.
Nutter is making a point against President Obama in my opinion.
It is fishy. Here's your input:
Rex Nutting is MarketWatch’s Designated Obama Toadie.
Here’s your input: People defaulting on mortgages+people renegotiating credit card debt+people filing for bankruptcy=lower private debt
At the same time, banks are not handing out subprimes like obama phones.
Naturally, the result of this is lower growth. The government’s response to this is more easing to encourage the banks to reignite the subprime engine.
The real story here is what would have happened if the government had stayed on the sidelines? Let’s face it, the Obama administration has faught self imposed restraint at every turn. Had the government not intervened, savers could have purchased nice homes with five or ten year mortgages, been out of debt before their kids were ready for college, and had plenty of time to save for retirement.
It’s based on counting a bad mortgage as a loss of debt, but of course, someone still has that debt or lost capital.
My exact thought. Just a lot of mumbo jumbo that means absolutely nothing with respect to this country's grave debt crisis.
Eventually we will see price controls and shortages of essential goods and services at a time when our currency becomes worth less and less.
I could go on, but I wouldn't want to depress ya...
For a more detailed explanation, I recommend the following:
The Source of High Inflation: Government Spending
Btw, I recently saw where GA sales have fallen over 400%.
There’s a reason they call him Nutting.
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