Peter Blane


Posted in Consumer Confidence by wusspett on August 17, 2009
Tags: , , , , , ,

This year, for the first time in a long time, U.S. citizens, on average, began saving the money they earned at a positive rate. References:

Why are the citizens of the U.S. saving their money so vigorously?  Why is their government spending their citizens’ money so vigorously?  It seems they have differences in how to solve our collective “problems”.  As Peter Schiff said, “But rather than accepting the market’s medicine, our government is overriding its own citizens’ responsible behavior. To do so, it has put borrowed money into consumers’ pockets, and then conjured various incentives for them to go out and spend it. This process requires more government bureaucracy, more debt, and more regulation at a time when we can’t afford any of it.”

In my opinion, citizens are setting the example for how the government needs to be behaving.  It seems the government’s solution is doing the opposite of what I think a good solution is: save money.  OK, government, your citizens have started acting more responsible with their money. Your turn.


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