Monday, March 28, 2011

Peter Schiff : Americans should chose between saving and eating

Peter Schiff : the good news as the main stream media puts it is the personal spending is up , what we really luck in this country is savings , so the fact that we are spending money is not something that we should celebrate says Peter Schiff , especially that most of us are broke or have debt to pay , the reason we spent more money is that the savings rates dropped sharply , because incomes in the month of February only rose by three tens of one percent so the additional spending came because we reduced our savings rather than we increased our incomes , despite a real drop in income Americans spend more not less , Peter Schiff thinks that the reason Americans are spending more is because it cost them more to eat and drive their cars it's reflecting a rise in the cost of living Americans are spending money they rather not spend , they rather save more money ...unfortunately the decision is between saving and eating , they are choosing eating ....

1 comment:

  1. I think choosing between saving and eating is not the question. The real question is choosing between eating at home and eating out unless I miss the point and you sarcastically mentioned it.

    Humans always save when they save before they spend.
    Humans seldom save when they spend before they save.


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