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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (128512)	12/6/2012 8:35:07 AM
From: koan	1 Recommendation Read Replies (2) \| Respond to 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.

To: RetiredNow who wrote (128512)	12/7/2012 8:21:57 PM
From: John Vosilla	Read Replies (1) \| Respond to of 149317

If I go mortgage my house to buy a Ferrari to impress my neighbors, will they think I'm a rich man? I seem to recall the height of all this nonsense was Reaganomics and Bush's Ownership Society that both lead to a financial crisis. So the uptrending credit super cycle basically lasted from 1982-2007, burst and we averted another depression via mad man Ben while too many Gilded Age robber barons got bailed out unlike the 1930's where most everybody suffered . Why is anything you are saying something new that a few of us figured out long before it became mainstream?