Savings and Moan

Goodbye America. We are now a third world country, and Washington is still giving money to people who are not American and are UnAmerican. Does anyone in Washington have any common sense, no they do not. I say let the ones who are getting the bailout money prop up the economy. As for me and my house we are only spending for what we have to have. This bailout money will be wasted. The middle class and the poor do not have money to buy houses, cars, etc. Someone please enlighten me as to how we will get our bailout money back when cars and houses are not selling, and when plants and businesses are shutting down and laying off workers.

All of my family has quit spending period. We are doing without and it isn't killing us one bit. We have always lived below our means. If we know we cannot afford something, we don't get it. We are not going to start spending regardless of what the economy does. Let the ones getting the bailout money spend and prop up the economy. This bailout money is going to do nothing for the economy. If people do not have the money to buy cars, houses, etc, they cannott buy them. Does anyone in Washington have any common sense? No, they do not. We are now a third world country and they are still giving money to everyone who is not American and who is UnAmerican.

The jam we are in might not be such a ticket to doom many in the media paint int to be..As the resolution trust co. got back a handy sum of the money it dished out so will unckle sam get back , with good acounability, much fronted now. A big thing to help would be to restore credit card rates to those teaser rates so many were sucked in with . that would help take the pressure off many and maybe just help spur purchasing of goods such as more efficent appliances and american mady cars

The way up is down -unfortunately. Americans need a cultural change in thought about what retirement means and who is supposed to pay for it. This will only happen in a "have to" situation like another Great Depression. Even this article states in the next to last paragraph that "Hopefully the number will be lower." Meaning the level of consumer spending cuts. We have to save, America, and we have to savew big to make up for the losses to home equity and retirement funds.

To add to my comment the government needs to stop giving money to non-americans.

I think that the only why to help is to tax the wealthly more and create more jobs for the poor. Also I think banks need to stop lending altogether because if you if give them more money to lend then they will just continue giving "dumb" people loans who can't pay them back. I think that banks should put a cap on how much people can borrow. People who make less then $20000 should not get more then that amount to borrow and that will make people get things the old way, when you had to save up enough money to buy things you want. I think the government needs to check into there vast amount of welfare collecters who most of them don't need it. They need to limit the amount of money they give in welfare so that this people can't buy expense cars and they still don't have jobs. I believe that they should just give welfare to people that make less then $15000.

I think that the only why to help is to tax the wealthly more and create more jobs for the poor. Also I think banks need to stop lending altogether because if you if give them more money to lend then they will just continue giving "dumb" people loans who can't pay them back. I think that banks should put a cap on how much people can borrow. People who make less then $20000 should not get more then that amount to borrow and that will make people get things the old way, when you had to save up enough money to buy things you want. I think the government needs to check into there vast amount of welfare collecters who most of them don't need it. They need to limit the amount of money they give in welfare so that this people can't buy expense cars and they still don't have jobs. I believe that they should just give welfare to people that make less then $15000.

i think that the only why to help is to tax the wealthly more and create more jobs for the poor. Also I think banks need to stop lending altogether because if you if give them more money to lend then they will just continue giving "dumb" people loans who can't pay them back. I think that banks should put a cap on how much people can borrow. People who make less then $20000 should not get more then that amount to borrow and that will make people get things the old way, when you had to save up enough money to buy things you want. I think the government needs to check into there vast amount of welfare collecters who most of them don't need it. They need to limit the amount of money they give in welfare so that this people can't buy expense cars and they still don't have jobs. I believe that they should just give welfare to people that make less then $15000.

The best thing the American consumers can do is save their money. Don't spend, don't spend, and don't spend. This will show the country and government who is in charge of this economy.

Gee, you are pointing out that Emperor Paulson has no clothes. He has been feeding the banks so that they can make loans to spur buying. But the consumers are overburdened with debt, which got us into this mess in the first place. They aren't going to go for even more credit, and the banks won't lend much anyway now. I have urged both Rep. Arcuri and Sen. Schumer to put bailout money directly in the hands of consumers. The money will get used to either pay down debt, for those with credit troubles, or spent, for those who don't have credit troubles. Both cases helps the economy directly without increasing the consumer debtload. We aren't going to get out of the recession very fast by expecting the consumer to take on even more debt with rising unemployment. We consumers may be dumb, but we ain't stupid.

And to top it off, the one consumer item bought on credit the most is the automobile. Cars now last a long time, and there is a well stocked used market. Cars are necessary, new is not. Discretionary spending is on the outs, and the new car is the king of discretionary spending.

The worker/employer/consumer cycle is the basic dollar multiplier, and that is NOT where the government is putting its money. And until consumer buying bottoms out this is the one key cycle that is broken. Getting money into this private sector cycle is the big missing key to recovery. Expecting consumers to take on more debt to fund this cycle isn't going to work, at least not very fast.