Economy doom and gloom?

[wildcard]

The liberal media would like us to believe that we are entering a huge new depression. That the worlds economy is going to collapse all becaues of us. Are you buying it? Most Americans are not, so say CNN
http://money.cnn.com/2008/03/21/news/economy/cnn_poll/index.htm?cnn=yes
They can't sell the "loosing" war any more and there global warming BS is being show as such so they have abandoned that rant so now it's the economy and people are not buying it either!
Why can't they just report the facts?

 

[Sambo11]

I don't believe our economy is going to necessarily collapse but I don't think you can overlook the OVER spending most americans have been doing for the last few years. People are deeper in debit with less to show for it than they ever have been.

Credit card debit is crazily out of proportion. More people than not owe more on the cars than they are worth. My personal favorite are those that have gotten positive equity in their homes due to the past few years rise in the home market, taken out home equity loans or refinanced and taken out the equity then spent it on other stuff that like boats, campers, rv's of all types, which has actually created more debit because now they no longer have any equity in their home most have a higher mortgage payment and or have other payments from the stuff they bought because they don't pay for things as they go.

I'm in no way a doom and gloom kinda person but it is what it is and you would have to be blind to not see this over spending was going to catch up with it self sooner or later.

 

[coyoteman]

I don't believe our economy is going to necessarily collapse but I don't think you can overlook the OVER spending most americans have been doing for the last few years. People are deeper in debit with less to show for it than they ever have been.

Credit card debit is crazily out of proportion. More people than not owe more on the cars than they are worth. My personal favorite are those that have gotten positive equity in their homes due to the past few years rise in the home market, taken out home equity loans or refinanced and taken out the equity then spent it on other stuff that like boats, campers, rv's of all types, which has actually created more debit because now they no longer have any equity in their home most have a higher mortgage payment and or have other payments from the stuff they bought because they don't pay for things as they go.

I'm in no way a doom and gloom kinda person but it is what it is and you would have to be blind to not see this over spending was going to catch up with it self sooner or later.

speaking about over spending, i'm working on my taxes right now. Where does the money go? I have no credit card debt etc. but man the more I make the less I seem to have.

It would scare me to death if I were to take a home equity loan to buy "toys". But if you were comfortable with it, more power to ya. I'm not buying the whole economic collapse thing either but it seems some people probably should slow down their borrowing.

 

[sldgy]

http://www.blip.tv/file/520347