I don't know how many times I have read a variation of the following in the MSM...due to the housing slowdown, foreclosures are rising as a result of falling prices. That is of course wrong. Foreclosures are happening because idiot homeowners bought too much house, not because the value of their house is falling. Whether or not the price rises or falls, they cannot afford the price they paid.
Now a new fallacy is out and about.
A lack of savings could be compounding the consumer debt problem. Another nationwide survey of 1,000 Americans released Monday by the American Savings Educational Council (ASEC) and America Saves found that a mere 53% of Americans have adequate savings with only 28% saving the recommended 10% of their annual income.Wrong again MSM. The lack of savings has nothing to do with the debt problem. Greed and a ' must have it now' is compounding the debt problem. People buying $600 phones, $500 jeans and $80K cars has nothing to do with their savings. They are not saving because they are buying all that worthless shit, not the other way around. It would be very easy for people to save 10%, even 20% of their income. Cut out $100 of your $150 cable bill. You can live without 180 of the 200 channels you have now. Cut out the $5 a day Starbucks coffee. Buy a $10,000 used car that gets 25MPG instead of a $40,000 new monster SUV that gets 12 MPG. Buy a $70 pair of jeans instead of a $500 pair of jeans. Cook at home instead of eating out every night. Cut your own grass (and where applicable shovel your own snow) instead of spending hundreds of dollars a year for someone else to do it. See how easy it is to save?
It's obvious what the MSM is doing. Laying the groundwork for another set of victims to be bailed out my my tax dollars. Just like the idiot homeowners who bought a $700K home on a $40K salary are now victims, idiot buyers of H2s and Escalades will soon be victims as well. Poor Juan 6-pack didn't know he was signing up for an $800 Escalade lease. It's the car dealer's fault. Poor Suzie Latte Non-Caf, mocha, low-fat, double espresso was hoodwinked by SAKS when she bought the $700 pair of jeans on her 19.99% VISA which she will only wear twice due to the fact that in 3 weeks those jeans will be out of style. Those SAKS bastards!
And victims need help of course. And who better to help than the new MESSIAH OBAMA? Hope, change and millions of new victims to help out. Welcome to Communism 2.0.