The New Age of Frugality, by Steven Hamm

[joel123]

http://finance.yahoo.com/banking-budgeting/article/105938/The-New-Age-of-Frugality


"Americans' charge-it culture is getting an overdue reality check. But will the new discipline stick?"

[raiden]

Keynes may have said all that, about frugality not being so great for the economy, but I say the best way to CRASH the economy is to SPEND yourself into a HOLE!
A little checking into macroeconomics reveals that the more money people save in the bank, the more money the bank has to lend out. What happens when you can't save? Eventually the pond dries up, and no body has room to swim! Sound familiar?
I read up a bit on David Ramsey, and HE said that saving is GOOD for the economy, in the long run. I say Keynes is going to have to ride in the backseat for a little while!

[pictureperfect]

Can't say I know much about economics and how all this will look in the years to come, but I got to believe my life is going to look different. I just don't have as much money in my retirement account and less poorer as a result. Its going to take a while for me to re-coop this losses and I won't be spending as much. I have no idea how this will effect the economy.