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I caused the recession ...

January 30th, 2008 at 06:41 pm

Written by someone who left their name as "I'm not bitter or anything":

"Our economy, the largest in the world, is driven by consumer spending. I say that you and Dave Ramsey have crusaded us right into a recession with your message of paying off your debts instead of taking that vacation and buying a 60″ flat screen when you get home - all courtesy of the Visa card.

I hope you're happy with yourself and can sleep at night as my 401k has now become a 301k."

Hmmmmmmmmmmmmmm

Readers: What are your thoughts?

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4 Responses to “I caused the recession ...”

  1. disneysteve Says:

    Very funny, in a sad sort of way. The problem, of course, is that in recent years, consumer spending has been fueled primarily by consumer debt. People were spending money they didn't really have. The were running up their credit cards and, more importantly, using their homes as ATMs and sucking out the equity. That could only go on for so long before the house of cards (credit cards, that is) collapsed.

  2. Broken Arrow Says:

    Hehhee, yeah, I laughed.

    Well, the domestic economy, being so dependent on consumer spending has become more like a... cancer in my opinion. And here we are, trying to keep it alive.... (Except us I guess.) Personally, I think it would be best to just let the cancerous part die off, and revamp our economy to one that relies more on financial responsibility....

    But of course, I highly doubt that I am the voice of the majority so....

  3. nance Says:

    I just had the conversation with my son about "personal responsibility". He is too ready to blame the banks for loaning money to anyone. That is part of the problem, but the bigger problem is the people who keep spending more than they earn, on "stuff" that they "want" and don't need. It isn't rocket science that spending more than you earn is going to lead to a serious problem.

  4. monkeymama Says:

    LOL.

    I think the current level of debt spending spree is not very sustainable. So um, I think it's not your fault. LOL.

    I guess the irony is we wouldn't be in such a spot if it hadn't become the norm to live beyond one's means. So I think the "not bitter or anything" person is more to blame, if anyone is.


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