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Interesting Tidbit

Posted on: Tue, 08/23/2011 - 05:36
Interesting Tidbit

The collapse in home prices means households have lost $7 trillion in equity since 2005.

Please notice that the amount lost is equal to one half the value of our national debt. This partially explains why the economy is on a slippery slope.....no one has the juice anymore to rev up the economy.

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Posted on: Tue, 08/23/2011 - 11:02 #1
but

Everyone needs a place to live.

WHY does a prosperous country like the USA have debt??? in the TRILLIONS???

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Mike
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Posted on: Tue, 08/23/2011 - 12:02 #2
two words

Economic illiteracy.

We are a society that has a mindset of spend today, pay back tomorrow. Tack on interest and you have a cycle that just keeps snowballing.

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Mark K. Cool

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Posted on: Tue, 08/23/2011 - 13:14 #3
The Truth!!

If you want to know the truth, why are economy is TRILLIONS in debt, and why our economy is about to get much worse, go to the national inflation association (www.inflation.us) and mej.com and scroll down to (mejonomics), and listen to the shows.Yes Bill and Mark your partially right, but the reasons our economy is failing runs much deeper that all that.. Get ready for a VERY VERY rough ride, and its also real SAD our own government will not tell all the people how to prepare, and what we should really be doing...