President Barack Obama Message Board

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Politics : President Barack Obama

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To: RetiredNow who wrote (128512)	12/6/2012 8:35:07 AM
From: koan	1 Recommendation Read Replies (2) of 149317

You are setting up strawmen again. We are not talking about buying ferrari's, we are talking about buying food and sheltor. <<koan, use your common sense. If I go mortgage my house to buy a Ferrari to impress my neighbors, will they think I'm a rich man? Yes, likely they will, but if I keep up that kind of lifestyle, then they will all wonder why I'm still working at 80 when all of them are retired. Spending money is not wealth and it doesn't make for a wealthy economy in the long run. Savings and investment is what wealth is. Savings and investment is called capital formation, which is what allows for long term investments that grow the economy organically.

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