I'm with ya in terms of personal debt, Bob. And frankly, I think it's a much bigger problem than people realize, particularly if we are at the start of a deflationary cycle (and I feel very strongly that we are). Deflation + fixed costs = bad news.




>>I think you absolutely right - in my opininon - the main proble in the US is luck of time. I was living in Saint Louis in 2000 and my hostfamily showed me, how can American people relax without money :)
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>Alot of people in this country (US) live above their means. They don't ask 'how much' they ask 'how much a month'?. If they can fit all their payments in the budget then they can buy more and make 'payments'.
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>Alot of people have two car payments that are way to high. In my area there is a middle class 'hood were a nice 3bed/2bath 1500sq ft house goes for about $80k-$100k. If you drive around this area you will see people with two 30k SUV's in the drive. 60k worth of cars and an 80k house?
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>People also have to have it new and now. How many people after the last car payment (or even before) is made run out an buy a new car? They put nothing down and get a 5 year loan. I almost died doing a 4 year on the van my family just bought. But, the plan is to keep in 7+ years before getting a new one. My car has a 3 year on it, and I will keep it at least 7. The car before this one I have for 7.5 years and it had a 3 year loan on it. So, I drove for 4.5 years without a car payment. That money went to other debts.
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>My goal is to have my mortgage payed of in 5 years, 7 years after I bought it. Do I sacrafice, sure... I don't have a 56inch wide screen TV, or a Lexus. I could if I wanted, but I want to be debt free and have money in the bank (and gold in the matress :).
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>Americans say they have no 'time' yet they seems to find time to watch dozens of hours of TV a week. We say we have no money yet people spend $5-10 per day eating lunch out.
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>'Nuff said.
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>BOb