Quote:
Originally Posted by SaintessHeart
If this site can be believed,, the average debt per American is around $55k per person. And spending going up means it is going to drive up inflation and debt, so how is it going to be a good thing?
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Yeah, the amount of debt the average American is carrying is somewhat troublesome only if they cannot maintain it (make their payments to their debtors).
So long as jobs are paying well and these people manage their debt responsibly, it isn't that big of an issue.
It's when inflation goes too high too fast and people can't keep up with their payments that debt starts becoming an issue I would think.
The economy in the US is still very shaky, we're getting a mixed bag of adding more jobs to the economy (not necessarily good paying ones mind you) and seeing unemployment creeping back up again.
Economy Adds Another 157,000 Jobs; Rate Up to 7.9%
http://www.cnbc.com/id/100426559
Gas prices moving back up again will only aggravate the situation.
Gas Prices Heading Up Again
http://chicago.cbslocal.com/2013/02/...ding-up-again/
Only time will tell if the policies of the Fed are going to work.
With the amount of GDP being consumed by the debt, I have my doubts.
US debt headed toward 200 percent of GDP even after 'fiscal cliff' deal
Read more:
http://thehill.com/blogs/on-the-mone...#ixzz2JfIfFhGz
Quote:
Originally Posted by kyp275
Well, a substantial part of the US economy is based on consumer spending, so you don't necessarily want it to decrease, especially when the economy is still weak. Of course, the question is will the increased spending and economic activity will translate into enough growths in the job market and wages to counter the negative effects.
Meanwhile in China...
http://www.bbc.co.uk/news/world-asia-china-21289321
yikes... that's gotta be a LOT of fireworks in that truck to destroy so much highway... |
80meters (262 feet) of road was destroyed! Damn!
Now those are some serious fireworks.
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In other news:
Newtown Calls for Armed School Officers
http://www.nbcconnecticut.com/news/l...320221.html?dr
Russian rocket carrying U.S. satellite plunges into Pacific Ocean 40 seconds after launch
http://www.dailymail.co.uk/news/arti...ly-launch.html
Washington Post Co. explores the sale of its downtown headquarters
http://www.washingtonpost.com/busine...y.html?hpid=z3