Ask Again Later
Yeah, that economy sure is doing great. Personal bankruptcies have hit record highs, and Wal-Mart reports that although people are buying stuff, they are sticking to the cheapest items in a given product class and timing their purchases to coincide with payday, two signs that personal finances remain lean.
Or maybe it's not that rough. But what the hell do I know about money? My net worth is the equivalent of a Zagnut and a cup of coffee.
Posted by
Johno
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Consider also that one
Consider also that one measure of economic health, the unemployment figures, only apply to those who are still actively seeking work. People who have been unemployed longer than 6 months (or is it a year?) or otherwise given up are not included.
As for my net worth: Put it this way... if I set up 100% payroll deduction, thereby netting $0, I could pay off everything in as little as 2 years! Of course, I'd start getting hungry sometime around week 2....
Silly rabbit! I wasn't
Silly rabbit! I wasn't counting debt-to-income/assets ratio! Merely present purchasing power!
Personal debt is a huge drag on the economy... interest payments eat so much cash... no wonder personal bankrupcies are up.
Well, measure it any way you
Well, measure it any way you want- broke is broke!
Let me put it this way: my people should expect LOTS of home-made Christmas gifts this year.