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205 Comments
- statismisdead, on 12/23/2008, -2/+52Why would people save if Obama is going to support the Federal Reserve printing trillions out of thin air for "bailouts" which will only erode the value of said people's savings. This is madness.
- geekchic, on 12/23/2008, -7/+53So long as "family values" are not a nostalgic 1950s vision which looks good on celluloid but was socially very repressive against anyone who didn't fit in to suburbia.
- mediaspree, on 12/23/2008, -12/+46While all you suckers were buying hummers to drive your over-medicated children to soccer practice I was socking away tons of cash. WHERE IS YOUR GOD NOW!
- avrygoodfrnd, on 12/24/2008, -2/+32On vacation with the money he saved on his car insurance by switching to Geico!
- scoot2006, on 12/24/2008, -2/+30In short: No.
In long: Noooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo - Delphium226, on 12/24/2008, -12/+39Right after we eliminate meaningless wars.
- FI5HERMAN, on 12/23/2008, -7/+31Any government faces an uphill struggle while ever folks line up for & expect a handout !!!
- sodade, on 12/24/2008, -2/+26Our whole society DEPENDS on consumers borrowing money to buy ***** they don't really need. If Obama tried to convince americans to be better than that, the house of cards would come flying down all the more quickly and Obama would get the blame.
- inactive, on 12/24/2008, -1/+23It's ***** sad if you need a president to tell you that saving might be a good thing.
***** Obama. He is not your savior and we should not look to him for advice. Learn to take responsibility yourself. - PrestonM, on 12/23/2008, -37/+59Can we start with exterminating the pest that is social security?
- Super6, on 12/24/2008, -0/+17To answer the title;
No. - yngtimmy, on 12/24/2008, -1/+17the better question would be can he get government to go on a savings spree. My guess is a big fat no to go with the big fat government that he wants to make fatter.
- Feenix566, on 12/24/2008, -0/+14Obama doesn't need to convince anyone to start saving. We're already doing that. That's why the economy contracted in the third quarter of 2008. We're not comsuming as much. This is a good thing. It's the natural reaction to the news of rough economic times. It's the natural tighening up that every economy must go through in order to remain viable.
- mark076h, on 12/23/2008, -3/+18Does anyone else really hate the fora.tv website?
- donotclickjim, on 12/24/2008, -0/+14I hope the federal government and state governments lead by example.
- mfc5200, on 12/24/2008, -0/+14National Savings rate = Consumer Savings Rate + Government Savings Rate.
The government should get THEIR OWN books in order before they start making programs where they try and control peoples lives and spending patterns.
The arrogance, god damn. I hate government sometimes. - Feenix566, on 12/24/2008, -3/+17Keynesian economic thought is what got us into this mess in the first place.
Keynes was wrong. - jerbaker, on 12/24/2008, -7/+20Right after we come up with a different way to avoid having homeless old people wandering the streets looking for food and shelter.
- inactive, on 12/24/2008, -6/+19didn't know god told everyone to buy a hummer and have children and over medicate and to play soccer.
did your blow up doll get a leak? easy to save when you never leave your basement.... - TVarmy, on 12/24/2008, -8/+20Exactly. If it weren't for social security, my mom, my autistic little sister, and I would have been screwed after my dad passed away. Thankfully, we had social security, and it enabled my mom to wait until my little sister was more independent before she entered the workforce again, which I think greatly helped my little sister's development.
- durruticolumn, on 09/18/2009, -5/+17
Defense? You call what we do, "defense"? Strange... - tiggerdigger, on 12/24/2008, -2/+13NO! He is not god people, come on. He can't and won't bring on some new "era" of change to america that will suddenly make all of our problems disappear. First black president, yadda yadda yadda, isn't race not supposed to be a factor in our world today? Just because he promises some middle class tax cuts and tells the majority of people who will vote what they want to hear and gives everyone someone to hate in the upper class doesn't mean everyone should put this guy on a pedastal. He really, honestly, hasn't done one thing yet to prove himself worthy of this position. Bury me, I know you Obama fanatics read one thing anti-Obama and just refuse to let the information process in your brain, so if you somehow make it to the bottom of this comment then I commend you, you are better than 95% of the other Obama supporters I know who just go around shouting "Obama 08!", and when asked why, they say "cause he'll bring change, DUH!!!!"
- AbsurdParadox, on 12/24/2008, -4/+15No, read anyone listed here: http://en.wikipedia.org/wiki/Austrian_School
- leif77, on 12/24/2008, -2/+13I was going to post all the things i own to make my dick seem bigger but then i would come off like a self righteous dick so i decided not to.
- trdrstv, on 12/24/2008, -0/+11Wait, the Federal Government wants to tell me how to save money? How about managing your own budget!
Seriously, the economy being in the toilet and people worried about their jobs will induce more saving, Obama doesn't have to shout that from the mountains... - OPR8R, on 12/23/2008, -1/+11We're all in debt... Nothing to save.
- NSResponder, on 12/24/2008, -1/+11"Saving money is a smart thing to do"
Not when the currency is being inflated at a higher rate than you can get in interest, it's not.
-jcr - thegamingguy, on 12/23/2008, -2/+12In my opinion it will be fairly easy to convince the people that he is making progress with a gesture aimed at middle America. Most are under the impression that the economy is as bad as it can be. Anything positive (shortsided or not ) could look like a big step in the right direction and go far with people.
- jerbaker, on 12/24/2008, -0/+9Why do you invest your money and still maintain a credit card balance? You do realize that the APR you pay on those balances is negating your investments to a large degree?
- MWeather, on 12/24/2008, -3/+11"Can we start with exterminating the pest that is social security?"
Then what would we raid to pay for Wall Street and Detroit's mistakes? - TheOneKen, on 12/24/2008, -3/+11First of all, Obama doesn't need to do anything. The economy does best when left alone. Secondly, the savings rate is already very high for this year. That's why the Federal Reserve is lowering interest rates to historic lows. If we were smart, we'd just take the recession on the chin and use it as an opportunity to reduce debt.
- TVarmy, on 12/24/2008, -3/+11Fart, let's stop the pre-emptive wars. Plus, we're a democratic republic, and we tend to not be fond of people who want to scrap social security entirely, so I think that says a lot about what we, as citizens want. Just because social security doesn't agree with your own political philosophy doesn't mean it "should not" exist. Only things the elected representatives want and what goes in line with the constitution is what should exist.
- LordRahl72, on 12/24/2008, -4/+12Money has LONG since ran out. We have none. Every penny the government spends we barrow.
We are a broke country living on credit and a pipe dream. As long as we can keep printing money like paper and keep helping people get more and more in debt we can help this pipe dream last longer so people can pretend the American Dream for a few more years. - inactive, on 12/24/2008, -3/+11Problem is, the governemnt and country's economy does not WANT us to save our money or to forgoe credit etc...
We and our spending is their lifeblood. Why do you think the media (radio, tv, print, internet) advertises so much? - NSResponder, on 12/24/2008, -0/+8Obama can't do it, and he won't try. He voted for the bailout, which was the single biggest shot of inflation the Fed has ever perpetrated. As long as the government and the fed keep inflating the currency, savings are a losing proposition.
-jcr - mentalone, on 12/24/2008, -2/+9Madness...? THIS IS AMERICA!
- iloveliberals, on 12/24/2008, -2/+9Wanting limited government is very patriotic...unless you're a career politician (e.g., Joe Biden), in which case patriotism is defined by one's willingness to pay more taxes.
- Spudster, on 12/24/2008, -8/+15And that unnecessarily large military.
- iloveobama, on 12/24/2008, -1/+8Obama can do anything, even lower the oceans like he said he would
- Opiate, on 12/24/2008, -0/+7Save your money while the government spends more of it.
- jerbaker, on 12/24/2008, -0/+7Easy to achieve. If they want people to save, they need to stop punishing people who are saving. The current low interest rates are making it impossible to earn any meaningful return on savings. Don't believe for a second that it's unintentional. They want you out there spending, not saving.
- kaelyiesta, on 12/24/2008, -3/+10We should at least have the choice to opt out and not have part of our paychecks stolen. If you aren't capable of being responsible for yourself then sure, have the government provide your welfare. Just get the ***** out of the way of the rest of us who prefer to control our own finances and all the dangers that go along with it.
Unfortunately, with the way our government manipulates money, just being a responsible saver isn't enough. We also need to get rid of all this meddling with the economy so one doesn't have to worry about the monetary representation of their lifes work depreciating. - executorzz, on 12/24/2008, -0/+6Jokes on you, your cash is being made worthless.
- Rothbardosaurus, on 12/24/2008, -1/+7The most ruinous thing we can do to the economy is to keep believing some politician can "induce" it to do one thing or another. The fiat monetary system is inherently inflationary, which steadily drives the prices of everything upward, and that is what encourages people to go into so much debt. Things are cheaper now rather than later. Better to pay for it later in depreciated money.
In a true free market though, one without such a flawed monetary system, prices trend downward over time and/or stay much more stable than they do now. Under this environment, saving makes much more sense than debt for obvious reasons, and on top of that there's the benefit of not steadily leaking wealth into the coffers of parasitic central bankers and politicians.
If Obama wanted people to save, he would do exactly the opposite of what he plans on doing. He proposes to spend ridiculous amounts of money on public works projects, all of which will have to be printed, which means rampant inflation, which means people will have to spend their money FAST when they earn it to avoid higher prices at the grocery store and gas pump. In countries where this happened before, businesses resorted to paying their employees twice a day, so the workers' wives could run to the grocery store before prices went up again.
Hopefully Obama isn't stupid enough to make the exact same mistakes as FDR, Weimar Germany, Zimbabwe and Argentina. - roddack, on 12/24/2008, -1/+7Go continue to lick the hand that feeds you.
- stpaulmatt, on 12/24/2008, -1/+7One thing that he won't encourage is for the government to be fiscally responsible. Get ready for the biggest governmental spending spree in the history of our country!
- NJank, on 12/24/2008, -0/+6Sometimes recessions are necessary to reign in over-exuberant growth based on phantom equity.
- 4degrees, on 12/24/2008, -2/+8thank you yatzee....
- voisine, on 12/24/2008, -0/+6We're in the middle of a saving's spree right now. Have you people been living under a rock? Prices dropping, consumer confidence falling, sales tanking. Unemployment is up, but that only accounts for small part of it at the moment. Obama won't be able to maintain it though. The fed is doing everything in it's power to stop it, to get people borrowing and spending again. The fed will create enough money that people will realize they need to get rid of their dollars as fast as they can before they lose their value. That's when the sh*t will really hit the fan. You ain't seen nothin' yet.
- inactive, on 12/24/2008, -5/+11Go look up why Roosevelt created it, you are simply wrong.
Ignorance like yours is the reason the USA is failing. -
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