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Originally Posted by evollove
1.) The few wealthy people I know can be accused of buying too much, not too little. Also the wealthy need to eat, pay bills, etc. And like most people, they get a strange thrill buying shit they don't need at the mall. In my very limited experience, the affluent love to spend.
2.) Investments and savings, at lest theoretically, seems to be good for all. Investments in businesses allow the businesses to expand, hire more workers, etc.
Savings in, say, banks, allows for more capital. Person A saves money in bank; person B walks in and asks for a loan to start a small business. The bank has the money thanks to person A.
This is all theoretical. Why doesn't it work?
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if you wanna get nerdy let larry summers tell it
http://www.ft.com/cms/s/2/dbb65da8-9...tml#axzz29NBSl
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Originally Posted by fugazifan
and instead of saying that people should be taking out loans that they cant afford, shouldn't one be saying that banks shouldn't be giving out loans that they know people can't pay back?
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that's like saying people are retarded children and banks are 100% responsible for the actions of individuals. so no. it takes 2 to tango.