Results 1 to 1 of 1
Thread Information
Users Browsing this Thread
There are currently 1 users browsing this thread. (0 members and 1 guests)
-
02-05-2008, 03:53 PM #1
- Join Date
- May 2007
- Location
- South West Florida (Behind friendly lines but still in Occupied Territory)
- Posts
- 117,696
Economy Fitful, Americans Start to Pay as They Go
Economy Fitful, Americans Start to Pay as They Go
By PETER S. GOODMAN
Published: February 5, 2008
For more than half a century, Americans have proved staggeringly resourceful at finding new ways to spend money.
In the 1950s and ’60s, as credit cards grew in popularity, many began dining out when the mood struck or buying new television sets on the installment plan rather than waiting for payday. By the 1980s, millions of Americans were entrusting their savings to the booming stock market, using the winnings to spend in excess of their income. Millions more exuberantly borrowed against the value of their homes.
But now the freewheeling days of credit and risk may have run their course — at least for a while and perhaps much longer — as a period of involuntary thrift unfolds in many households. With the number of jobs shrinking, housing prices falling and debt levels swelling, the same nation that pioneered the no-money-down mortgage suddenly confronts an unfamiliar imperative: more Americans must live within their means.
“We don’t use our credit cards anymore,â€Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
Republican Introduces Bill Requiring Proof Of Citizenship To Vote
05-10-2024, 06:05 AM in Non-Citizen & illegal migrant voters