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Theory on economy?
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<blockquote data-quote="timer lady" data-source="post: 319499" data-attributes="member: 393"><p><span style="font-size: 12px"><span style="font-family: 'Comic Sans MS'">I believe the economy started to decline when companies stopped pension plans & started pushing 401(k)s. Our entire retirement is based on the stock market. </span></span></p><p><span style="font-size: 12px"><span style="font-family: 'Comic Sans MS'"></span></span></p><p><span style="font-size: 12px"><span style="font-family: 'Comic Sans MS'">Retiree's want a dividend to live on. Bring on the easy credit; before that when you had to earn a credit rating the market wasn't unstable but wasn't soaring either. The housing market was in a depression, i.e. no homes were being built or sold.</span></span></p><p><span style="font-size: 12px"><span style="font-family: 'Comic Sans MS'"></span></span></p><p><span style="font-size: 12px"><span style="font-family: 'Comic Sans MS'">Add into that the status of owning a home you cannot afford. You have to adjust your potential mortgage payment on one income not two, though the bank takes both incomes plus Occupational Therapist (OT) which doesn't always happen. </span></span></p><p><span style="font-size: 12px"><span style="font-family: 'Comic Sans MS'"></span></span></p><p><span style="font-size: 12px"><span style="font-family: 'Comic Sans MS'">AND the idea of need versus want. Then there are the electronic items that become throw aways - so if you bought on credit you may throw that item out before it's paid for.</span></span></p><p><span style="font-size: 12px"><span style="font-family: 'Comic Sans MS'"></span></span></p><p><span style="font-size: 12px"><span style="font-family: 'Comic Sans MS'">I think the worst part of our ecomony though, is that people have used their homes as credit cards. Using the equity for everything from college education (big no no) to vacations or paying off cars. The bank owns your home very quickly on that mindset.</span></span></p><p><span style="font-size: 12px"><span style="font-family: 'Comic Sans MS'"></span></span></p><p><span style="font-size: 12px"><span style="font-family: 'Comic Sans MS'">Just MHO on the matter. I could go on but it incenses me.</span></span></p><p><span style="font-size: 12px"><span style="font-family: 'Comic Sans MS'"></span></span></p></blockquote><p></p>
[QUOTE="timer lady, post: 319499, member: 393"] [SIZE=3][FONT=Comic Sans MS]I believe the economy started to decline when companies stopped pension plans & started pushing 401(k)s. Our entire retirement is based on the stock market. Retiree's want a dividend to live on. Bring on the easy credit; before that when you had to earn a credit rating the market wasn't unstable but wasn't soaring either. The housing market was in a depression, i.e. no homes were being built or sold. Add into that the status of owning a home you cannot afford. You have to adjust your potential mortgage payment on one income not two, though the bank takes both incomes plus Occupational Therapist (OT) which doesn't always happen. AND the idea of need versus want. Then there are the electronic items that become throw aways - so if you bought on credit you may throw that item out before it's paid for. I think the worst part of our ecomony though, is that people have used their homes as credit cards. Using the equity for everything from college education (big no no) to vacations or paying off cars. The bank owns your home very quickly on that mindset. Just MHO on the matter. I could go on but it incenses me. [/FONT][/SIZE] [/QUOTE]
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