More saver bashing

ThriftoRama · #1 (**permalink**) 02-12-2009, 10:47 AM

Rising savings rate could cause problem for economy - Feb. 12, 2009

mommyof4 · #2 (**permalink**) 02-12-2009, 11:57 AM

So sue me, I'm saving my money and only purchasing what I need.

GREENBACK · #3 (**permalink**) 02-12-2009, 01:04 PM

I doubt that they'll convince those who have just had this incredible epipheny that they weren't using real money after all to suddenly go out and once again start spending. most couldn't if they wanted to due to not being able to obtain credit.

Perhaps that article want's those who have been saving and still have good credit to loosen their purse strings to make up for it. Good luck with that.

Broken Arrow · #4 (**permalink**) 02-12-2009, 01:25 PM

I'm really shocked that this came from CNN, because I would think they have better reporting standards than to make up sensational headlines such as "Saving is killing the economy."

But perhaps I have been too naive all this time....

To me, this is so obviously biased that I'm not even sure if it would be worth spending the time to rebut it. Seriously, saving is KILLING the economy? Even if that's true somehow, I say kill it. Kill the cancer that is our old consumer economy. Build a fresh, new sober one.

kork13 · #5 (**permalink**) 02-12-2009, 03:49 PM

Quote:

Originally Posted by Broken Arrow

I'm really shocked that this came from CNN, because I would think they have better reporting standards than to make up sensational headlines such as "Saving is killing the economy."

But perhaps I have been too naive all this time....

No offense, but I think you've just been naive... Look around on their homepage and you'll realize that probably nearly half of their headlines could be termed as "sensational". They're just trying to lure people into reading their articles.

As for stories like this, I just laugh and ignore them completely. Meanwhile, I just got paid today, and by this weekend, a full 30% of it will be saved away in some form or other. Economists who want to freak out about people saving can bite me.

simpleyme · #6 (**permalink**) 02-12-2009, 04:02 PM

economy

just doin my part

(between my saving and debt repayment in the last few years this whole thing might be all my fault, at least according to CNN)

rob62521 · #7 (**permalink**) 02-14-2009, 06:25 AM

Most news agencies want to sensationalize to get the reader/viewer. And I think the "saving" is probably killing the economy because people are being forced to save who otherwise had been out spending madly. A friend of mine recently has been force to do just that...she thought nothing of blowing more than her monthly take home pay and wound up very deeply in debt...now being forced to live within her means, after she pays her bills and buys groceries, she has 78 cents left at the end of the month and whines about it!

whitestripe · #8 (**permalink**) 02-14-2009, 10:27 PM

well, i'm going to state the obvious here: saving did not kill the economy - but it is helping it to die. the big horrible monster that pulled the trigger was the people who borrowed more than they could afford (in turn - the banks that gave them the money as well). the 'savers' did not cause any of this - however, being that the savers are now the only ones with money left in their pockets, they are being blamed for letting the economy 'die'.
don't fall into the guilt trip. its not YOUR fault people spent more than they could afford.