You Can’t Stop Spending Money! It’ll Make The Economy Worse!
It's the weekend. It's a nice time to relax, maybe go to the mall or go to a movie, or go site-seeing. And then you come home, go online to a news site, and this is the first thing you see:
The Dow is tanking! Gold prices are plummeting! Greece is 99.9% bankrupt! If Europe falls, we'll fall! Why do they continue to hound us with all this "happy talk". Because that's what idiots like me end up clicking on! This is right on the home page of my favorite money site, CNNMoney.com
This shows you their most clicked on topics of today. Need I say more? It sells papers and it creates "clicks". And you can't blame them. It is the news, and they're in the business to report and have YOU decide (whoops, wrong network, but you get the idea)
But I have a theory, simplistic as it might be, and tell me if you agree or not. I really think that a huge majority of the problem stems from the public's mental state about withdrawing money to spend it!
A friend of mine said it to me the other day very proudly. He said "I don't spend one red nickel anymore. I'm to afraid of what's coming". Yea? I'll tell you what's coming-a real recession if we all take that attitude. If he doesn't buy, and then tells others not to buy...
1. Some company somewhere is making less because of it
2. Eventually someone will be laid off if enough don't buy it
3. The factory that makes it shuts down
4. The town that it's in looks like crap
5. Nobody invests in the town, making it look further like crap
6. The local bank files BANKruptcy.
I know that it's easy to say when there's so much unemployment, and that part I haven't figured out yet, but those with extra cash shouldn't be keeping it too close to the vest. It can have a devastating effect.
Here's a great article from BestRankingSites.com about this if you want to read further
What have YOU stopped buying? What have you decided to splurge on? Would love to know! Now if you'll excuse me, I have my eye on a new point and shoot that I want to read up on (too bad it wasn't made in this country)