Mrcauser’s Weblog

Just another WordPress.com weblog

The economy needs savings to rise……

leave a comment »

More evidence of the next and probably last boom I’ve been telling you about. Too bad this won’t last as a spending frenzy will develop over the next few years as all that cash printed up by The Fed has to find a place to land. Expect the Republicans to nick away at deficits but not much will change. Government spending rules our world for the foreseeable future as the final collapse comes within our lifetime.

Remains to be seen if the Repubs get a shot at destroying or at least beating the public unions down. I’m not holding my breath. 

It also remains to be seen how long we can keep this quantitative easing up before it spirals out of control and inflation bites us in the ass. We now support most of the world with our money. China collapses without our importing their trinkets and worthless electronics and they starve without our food which is booming in price. And don’t get me started on our other creditor, Japan, which is a basket case waiting to tip over.

A printing press boom now known as “quantitative easing” will eventually consume the world in debts and put enormous pressure on governments to maintain order. Expect more riots and murder. Oh yeah, poor people lose their remaining health benefits as no doctor can afford to treat them at a loss and stay in business. Of course, everybody is just “greedy” and needs government to step in and punish these people. Expect the police state to accelerate everywhere.

We’ll definitely need a war to keep the elites in power. Works every time!

Stay tuned!

New Study: Bank Deposits On Rise

Why are consumers ignoring low interest rates and plowing more and more cash into bank deposit accounts? Part of it is uncertainty – Americans are really unsure where the economy is headed, so putting money away for a rainy day seems like a good idea. When Americans are anxious about the economy, more money goes into fixed-rate investments (like banking accounts) and less into riskier ventures like the stock market.

Consumers are also concerned about paying down debt. In 2009 and 2010, Americans have paid down $1 trillion in debt, according to the Federal Reserve Bank of New York. Having more money on hand to pay down credit card debt has become a big priority for U.S. consumers. So not spending the money, and instead pouring it into bank accounts to pay bills, is certainly a reflection of the “New Normal” economists are talking about.

Is your New Year’s resolution to pay off your credit card debt once and for all?
Credit.com offers three different strategies to paying off credit card debt — pick the one that’s right for you.

However, all that saving may not be helping the economy in the short term. Economists would love to see more consumers out there spending rather than saving. But over the long haul, the newfound respect for the traditional bank deposit account could show that Americans are finally mending their wicked financial ways.

Image by mccmicb, via Flickr
Brian O’Connell

Brian O’Connell is a Doylestown, Pennsylvania-based freelance writer with 15 years experience covering business news and trends, particularly in the financial, health and sciences, political and career management sectors. He is a former Wall Street bond trader; an author who’s placed two finance/investment titles in “The Book of the Month Club” and he’s a business writer whose byline has appeared in dozens of top-tier national publications, including The Wall Street Journal, CNBC, The Street.com, Yahoo Finance, CBS Marketwatch, and many more.
Comments
Cancel reply

Leave a Comment

Name *

E-mail *

Website

Featured Posts
Smash-Computer
How to Avoid Online Tracking. (Hint: You Can’t.)

01/05/2011
cash-deposits
New Study: Bank Deposits On Rise

01/05/2011
Foreign-Transaction-Fee
The Latest on Foreign Transaction Fees

01/04/2011
Kiva Bank
Kiva – A Fun Way for Kids to Invest in Earth’s Future

01/04/2011

*
Get Your FREE
Credit Report Card

See your detailed credit profile for FREE – no credit card required.

» See your grade now!
Credit Report Card
*
Connect with Us
o Got a great story idea? Share it!
o Want to be in the news? On TV? Sign up!
*
Find Cards that Match
Your Credit Rating

Expert Reviews • Compare Dozens of Cards
credit card logos Credit Level:
*
Hot Topics This Month
o Uncategorized
o Credit Cards
o Credit Tips
o Loans
o Identity Theft
o Budgeting
o Funny Money Friday
o Debt
*
Most Popular Posts
o Funny Money Friday: Dividing all the world’s money 09/01/2006
o Solving The Foreclosure Mess: Let’s Get Serious 11/01/2010
o Paying Off Debts Does Not Erase Them 10/06/2010
o Paying Off Credit Card Debt? Size Doesn’t Necessarily Matter 10/07/2010
o The Latest Verdict on the American Dream 09/27/2010
*
Get Your
Credit Score

Know, track and protect your credit. Sign up for your credit report & score.
credit card logos
track your score
*
Today’s Featured Posts
o How to Avoid Online Tracking. (Hint: You Can’t.)
o New Study: Bank Deposits On Rise
o The Latest on Foreign Transaction Fees
o Kiva – A Fun Way for Kids to Invest in Earth’s Future
o Opt-Out of Credit Card Solicitations
*
Blogroll
o Bargaineering
o DailyWorth
o Five Cent Nickel
o Get Rich Slowly
o NYTimes Bucks Blog
o The Simple Dollar
o WalletPop
o Wise Bread
*
About Us
CreditBloggers provides readers with unique insight, helpful tips and straight answers about their financial world. Our leading experts explore credit, loans, debt, saving, and identity theft topics. Meet our credit & finance gurus.

Advertisements

Written by mrcauser

January 6, 2011 at 6:30 pm

Posted in Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: