Why the U.S. is failing

[Sinful]

Actually, you can get credit by simply paying your bills.



If you keep more than 200k in a bank account, your an idiot.

They don't need to keep 200k in a bank account. It's how many people there are that have put their money into that bank. They could also have the bank holding their 401k as well

 

[Frodie]

Many countries go through recessions, but the U.S. still has it a lot better than many third world countries, so comparing the two Americans shouldn't complain.

 

[Diamond]

1) People complain about how much they get paid. You give them raise, they want another. It's a never ending cycle. If we expect to get out of this mess, we need to be happy with having a job, and quit complaining about getting paid a dollar more.

2) People need to quit buying what they can't afford. I was always told to keep my debt on one hand. Which practically means, if you can't afford it, DONT BUY IT. Another thing is using credit cards. I don't even see why people use them. They only get you in more and more trouble.

3)We are bailing out companies that are failing for good reasons, because no one wants to buy from them! Why are we bailing them out?!
Those are really the only two points that i have. I really stand strongly by this. But, ill wait for a grand discussion to start up!

No offense TJ, but the only correct statement you made was the second, I do think it's your own prerogative though, so your entitled to your opinion which I respect.

Statement number one is how the world is always going to be, people are naturally greedy. People strive to achieve the highest possible amount of success and it's always been that way. People are always trying to get on top, to reach higher limits than they previously have.

Statement two I agree with 100%.

Statement three is incorrect in my opinion. Companies such as AIG must be bailed out because when a company goes down such as that innumerable jobs are lost. The other main factor is that a company like that is an international business and with it going under it affects other nations, possibly causing a worldwide depression. Some of those companies went under, not because people didn't want to buy from them, but they couldn't afford their services or goods.

Good discussion though

 

[TJ]

It's called inflation buddy. People ask for raises because the price of everything else is going up, so in effect you need to spend more money to buy the same amount of goods. In reality if you take inflation out of many people's raises, they are earning the same amount of money as they were before.

I was talking about before all of this. People were not happy with getting paid 15$ an hour, so they complain and strike for 16$ an hour. This is why americans are losing jobs to.

Those companies employ thousands of workers and would put thousands of families in a financial crisis, so we bail them out so the company can make adjustments to its product and improve sales.

We shouldn't. If no one wants to buy their products, then obviously we are just wasting money.

They don't need to keep 200k in a bank account. It's how many people there are that have put their money into that bank. They could also have the bank holding their 401k as well

You are "guarenteed" 200k in your bank account in case the bank goes down, why would you keep more?

Statement number one is how the world is always going to be, people are naturally greedy. People strive to achieve the highest possible amount of success and it's always been that way. People are always trying to get on top, to reach higher limits than they previously have.

Which is why we are losing jobs over seas.

Statement three is incorrect in my opinion. Companies such as AIG must be bailed out because when a company goes down such as that innumerable jobs are lost. The other main factor is that a company like that is an international business and with it going under it affects other nations, possibly causing a worldwide depression. Some of those companies went under, not because people didn't want to buy from them, but they couldn't afford their services or goods.

Why are we bailing out companies that obviously no one wants to buy from? Seems like a waste. There are plenty of jobs out there.

 

[Curt]

2) People need to quit buying what they can't afford. I was always told to keep my debt on one hand. Which practically means, if you can't afford it, DONT BUY IT. Another thing is using credit cards. I don't even see why people use them. They only get you in more and more trouble.

That's why credit cards are there in the first place, they determine your credit score. If you're not responsible to pay off your credit card balances, then banks would deny you of taking out loans.

 

[TJ]

That's why credit cards are there in the first place, they determine your credit score. If you're not responsible to pay off your credit card balances, then banks would deny you of taking out loans.

Simply paying your bills can raise your credit score also.

 

[x⁹]

Here's the economic crisis in BASIC

10 BANKS SCREW THEMSELVES OVER
20 MARKET REACTS
30 ECONOMISTS SAY IT'S GOING TO GET WORSE
04 GOTO 20

 

[natin1337]

I have a credit card and have no temptations to get into debt with it, people just think their rich and dont accept it and buy things to fit into a croud

 

[MaderJJ]

One thing,
Citi Bank fucked us over.

 

[Magictreeseed]

i think USA is failing due to the fact people buy what they cant afford, for example sometimes we buy houses worth 300,000 dollars when we dont even have 50,000 this makes bank go bankrupt and aso not only ruins the bank but the person who couldnt pay so thats why we (USA) is failing