[Grovenet] Are you better off ? ? ? ?

[David Morelli]

On Jan 15, 2008, at 10:55 AM, Ron D'Eau Claire wrote:

> And what's the  answer?
>
> Large cuts in interest rates that will  make it easier for  
> consumers to go deeper into debt buying stuff!!
>
> When did our formula for economic stability stop being "earn money,  
> pay off debts" and become "borrow money, buy stuff"???
>
> Ron D'Eau Claire

It started in the 1950's as the corporate types turned the war  
machine into the consumer products machine and consumer  
dissatisfaction had to be created to ensure sufficient demand.

About that time, we ceased to save so that we could pay cash for  
homes and automobiles.

It continued with the adoption of credit cards, and the federal  
allowance for tax deductions for interest payments.

It expanded when the Federal government ceased to have balanced budgets.

It lost all control when broadcast news agencies became advertiser  
supported and public schools turned to corporate sponsors for core  
education funding.

David