Why American Savers Have Drawn the Short Straw

[Sporkman]

Why American Savers Have Drawn the Short Straw

Why American Savers Have Drawn the Short Straw

There are painfully real reasons why America's savers feel they've got the short end of the stick

American savers, take a bow. This is your moment of vindication. Your hour of glory. And you earned it (in a manner of speaking).

You resisted the siren call of plastic teaser APRs, dutifully living within your means to store money for a rainy day. You never took out an interest-only mortgage. Never had to pawn the copper pipes from your exurban McMansion to pay the reset on your liar loan. Your credit score would have gotten you into Harvard at age 12...

[MonkeyMama]

I live in an area with a VERY high concentration of foreclosures. Let me tell you, there is nothing to be jealous of. These people foreclosing and filing bankruptcy? Their world is turning upside down. If you ask me, THEY are getting the short end of the stick.

I am quite happy to be a saver. In fact, I wouldn't trade it for anything. I just don't really *get* these articles. The economy sucks, yes, all around. & the savers are the ones who will get through the most unscathed. So, hail to the savers, we have it pretty good.

[simpletron]

MoneyMama, I'm with you. everyone wins when times are good, but only savers win when times are bad. we are one that can survive the down times with little lasting impact because we have that extra money in your budget to absorb raising cost. we have an EF, so job lost has less of impact. we don't lose our home or file bankruptcy and have our lives turned upside down.

my dad says remember the golden rule - the ones with the gold rule. right it is the savers who have the money(gold) and we have the power. think about buying a house or car now, the buyer is the one in control of the price because they could just go to the next seller if they don't like the price. and who are the buyers now? the "stupid" savers thats who. interest rates on saving account suck now, but my dollars are going farther in the stock market now(buy low, sell high).

I rather be the saver who gets "the short straw" than the spender who has or will get "the even shorter straw".

[rob62521]

As savers, yes, we do better than those who live dangerously, but it just seems that we are punished by those who did not save and spent money they didn't have.