Pesky economy

So Bush wants to keep interest rates low so people can get out of debt. The only problem here is that most of the people who need it have a proven track record of being so poor at money management that they won’t be able to get the loans.

You know where that leaves me and people like me? Outta luck, that’s where. See, I’ve been good and never spent more than I make — the average American evidently spends 1% more than they make. My wife is the big saver in the family, but I do my part. Now we’re both paying. Nine years ago we would get almost 7% return on a six month CD. Now we have trouble getting three percent. Greenspan might have kept the US from going into recession, but he screwed both the economy and those who know how to save money.

Ultimately it doesn’t matter because I’ll continue to spend and save wisely and those who couldn’t figure out how in the past still won’t. The people that would have declared bankruptcy still will; it will just take a few months longer now. It’s just a shame that the federal government feels the need to step in and mitigate what should be an individual’s responsibility. Shame on Bush and shame on Greenspan. Next time the feds need to let us enter a recession so that people realize that they have to hunker down from time to time and actually save money. Rampant consumerism is no way to fuel an economy for 10 years.

Rant over, go save some money people…lighter fare later.

Technorati Tags: ,