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ann1962 makes me remember how easy it is to say things without thinking.
Like the news people on TV last night getting upset that some tax payers in the US might not spend their promised rebate at the store to help the economy. They might pay bills instead, shudder. Where do these people think the money paid on bills goes, Uncle Scrooge's money bin? A black hole? Much better to have people stay on the edge of bankruptcy and have a nice new $600 set of golf clubs to enjoy it with, right? Or much better to use the $600 dollars as a down payment on a gigantic HDTV made in China cause that will help the US economy more directly!
ann1962 makes me remember how easy it is to say things without thinking.Like the news people on TV last night getting upset that some tax payers in the US might not spend their promised rebate at the store to help the economy. They might pay bills instead, shudder. Where do these people think the money paid on bills goes, Uncle Scrooge's money bin? A black hole? Much better to have people stay on the edge of bankruptcy and have a nice new $600 set of golf clubs to enjoy it with, right? Or much better to use the $600 dollars as a down payment on a gigantic HDTV made in China cause that will help the US economy more directly!
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Any number of financial institutions are in trouble because they bet that the publics' financial limits were just a bit higher than they were in reality, especially in the real estate market. Many are hoping more spending will keep the wheels turning. Maybe this time it will. But if it leads to higher prices and more debt in the system, as you've guessed, it just postpones the inevitable crash.