[Tolerance Sucks Rocks]

An oldie but a goodie.

PING!

[econjack]

Perhaps they’re paying down debt.

[Diana in Wisconsin]

That IS a Goodie.

Glad my brain never worked that way.

Future and current generations are in for a rude awakening. :(

[xrmusn]

One of the best ‘explanations’ of a debt ceiling:

The sewer line breaks and raw sewage pours into your basement up to the windows and is slowly rising.

DO YOU:
A. Call a plumber, repair the line, clean and aerate the basement

OR

B. get four or five jacks and place on ceiling, pushing the upstairs floor UP so as you can RAISE THE (DEBT) CEILING and take on more raw sewage?

[E. Pluribus Unum]

“Wealth” is nothing more than money you earned but didn’t spend on Escalades, bling and ho’se.

[semimojo]

One of the ironies about this is savings tend to slow economic growth and cause other distortions in the market.

A global glut of savings had a lot to do with the 2008 crash. There was so much global money chasing a return that mortgage backed securities looked great. The supply of investable money was there so the financial wizards created a product to buy.

Today, the same dynamic is distorting things.

Globally, people are saving more which reduces consumer demand and increases the money available to invest.

Demand for goods isn't booming because people are saving, so businesses aren't borrowing money to spend on expansion.

Without borrowing, interest rates stay low, now below zero in a lot of the world and almost so in the US, so the only place all these savers can find a decent return is in equities.

Not sure where the bubble is but it feels like there's got to be one - largely due to a savings glut.

[metmom]

Such statistics are more than just numbers. There are always those who experience hardships and are struggling to do something about it. This does not seem to be the norm. Most prefer not to worry about their financial future. They are optimistic and believe misfortune will not visit them. Yet others believe they can rely on others to help them. They think family, friends or government will see them through troubles.

That only works if those have the means or willingness to help.

That's not always the case.