G_Force said To paraphrase Barney Frank, what planet are you living on?????????? Apparently you have heard nothing about the record number of foreclosures (e.g. people cannot afford their homes) nor about the states whose unemployment insurance funds are drying up. Doofus, you have to have money to buy things, even if things are on sale.
twomack saidI already know the answer to this one but I am curious as to what you guys think.
Let's go further and make one other assumption: if you believe deficits and the current economy help the rich, do you think last years melt-down was planned?
The rich suffered the greatest lost in last year's meltdown. Those who don't have much to begin with, didn't lose much at all. In fact the poor are benefiting the most right now because businesses and retail stores are selling stuff at 50-75% off the retail in order to encourage more spending. Restaurants are also offering buy 1 meal get one free, so this helps the poor like me be able to afford to eat out again in restaurants and to buy some really nice clothes with such terrific deals. Gas is also the lowest it's been for many years, which is really great because now I can travel again more.
I'm talking about the poor who are still working, but who are so poor that they have never been able to own their own home. I am not talking about the UNEMPLOYED or those who own their homes and because of a loss of their job are not able to make their mortage payments. I''m talking about people who are much poorer than this who have NEVER been able to even own their own home at all. The MIDDLE CLASS definitely has taken a hard hit with the meltdown, but the POOR, if they still have their job, have benefited greatly. People who own their own home are not the people I am talking about. I am talking about people who are MUCH POORER than this. I am also not talking about the unemployed, but people who are employed, but are still poor. I am one of those people. I have never owned my own home, but because of the meltdown last year I may now be able to purchase my home this year because of very low interest rates, $8,000 from the federal government, and the cost to buy a home now is much lower than it was last year because the price of homes has really dropped since last year. It's a buyers market right now. I can purchase the same home today at $20,000 less than just last year. That's how much the price of homes has dropped. So the poor like me who is still employed is now able to purchase more things for the same amount of money because the cost of things has gone way down, like groceries, gas, clothing, restaurants etc. The grocery stores were selling hamburger for $1.49 lb this summer. I haven't seen the price of hamburger that low for probably 20 years or more. And many items in the grocery store they are offering FREE, if you buy one. It is the same way with restaurants now. Many restaurants are now offering a free meal, if you purchase one. So 2 people can eat out now for the price of 1 before.. That is a 50% markdown and now I have been able to eat out once in awhile where before I could never afford it. So all I am saying is the economy has benefited many poor people like myself who still have their job, but are able to purchase things like homes, cars, groceries, gas, clothing, restaurants etc. at considerably much lower prices now. I am still poor, but I am able to buy more things today for the same amount of money.