Quote:
Originally Posted by Claeren
^ Agreed, cash will soon be king.
There was an excellent article about this whole thing in the Globe the other day:
http://business.theglobeandmail.com/...drecovery/home
Basically, before the 'crunch' people were spending more money than they had. So practically speaking how long could that go on for?
Now, post-crunch, people enmasse are saving there money again instead of spending it. That is actually the only sustainable thing for people to do -- it only looks bad because people and companies had been so drastically outspending their actual means to spend.
Kind of crazy to think that SAVING ones money, when done collectively, is both prudent and destructive....
Claeren. |
Do you think the average joe is saving their money or barely meeting debt payment requirements while they have no more "equity" to spend?