Finally, after 148 posts, we find out the truth. It's Bush's fault:
thecatburgler (1000+ posts) Sun Jul-27-08 02:16 AM
Response to Reply #108
148. Actually, yes. In a society that also tells people that spending is their patriotic duty.
Along with a multi-billion dollar marketing complex that brainwashes people into buying things they don't need. There's a definite disconnect there. If people had been dutifully saving their extra (hah!) cash the past 10 years, then the housing and credit bubble that's been propping up our economy would have been non-existent. I'm not inclined to blame ordinary people for not having healthy savings and retirement accounts when you had (a) a President who was demanding that Americans go shopping after 9/11 (b) predatory mortgage lenders and credit card companies and (c) banks that we can't even depend on to insure our accounts. Really, try to put the blame where it really belongs. Yes, some people foolishly overspent, but that pales in comparison to the way GIANT CORPORATIONS and OUR OWN GOVERNMENT have squandered our economic security.