- Joined
- May 7, 2010
- Messages
- 24,401
- Reaction score
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- Location
- Upstate SC
- Gender
- Male
- Political Leaning
- Independent
Interesting.
Here I was thinking I was I was saving money for a "rainy day." For things like my eventual retirement, unexpected emergency expenses, the ability to make purchases without going into debt, etc.
I never realized that spending everything I make, going into lifetime debt, and pandering to a consumerist mindset were social obligations to stimulate the economy. :roll:
I think you still believe in Reagan's "voodoo ecomonics" otherwise known as "trickle-down economics." Well, the top 1% have gotten massively richer, and we have yet to see how any of that amassed personal wealth has trickled down to the rest of us.
I'm not suggesting that you spend everything you make, I'm just suggesting that you INVEST your money, instead of saving it. There is a difference.
Investments can make a good ROI even when interest rates are low, but of course investing wisely takes a little more effort and risk than simply saving. Quite honestly, saving adds no value to the macro economy, while investing can add quite a bit of value. Savers don't deserve a high ROI, they don't do anything to earn it. Investors do.