Comments on: A saving tsunami http://www.mightybargainhunter.com/2006/03/06/a-saving-tsunami/ Helping readers to use bargains wisely since 2005 Sun, 12 Feb 2012 16:24:19 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: mbhunter http://www.mightybargainhunter.com/2006/03/06/a-saving-tsunami/comment-page-1/#comment-897 mbhunter Wed, 08 Mar 2006 05:25:45 +0000 http://mightybargainhunter.com/2006/03/06/a-saving-tsunami/#comment-897 Great discussion! Thanks for your comments! Interest rates are on the rise. I heard on NPR tonight that 10-year treasury APYs were challenging two-year highs. Longer payoff times, and rising ARMs, will begin to strap people. And Sean, I tend to agree with you that the savers will end up footing the bill. Additionally, I admire people who work to pay off credit card debt and tell others about it. I've seen more than one article on MSN Money about which bills NOT to pay or how paying down your debt can HURT your credit score. There are a lot of incentives to stay in debt, and it's good to see people getting out of it. Great discussion! Thanks for your comments!

Interest rates are on the rise. I heard on NPR tonight that 10-year treasury APYs were challenging two-year highs. Longer payoff times, and rising ARMs, will begin to strap people.

And Sean, I tend to agree with you that the savers will end up footing the bill.

Additionally, I admire people who work to pay off credit card debt and tell others about it. I’ve seen more than one article on MSN Money about which bills NOT to pay or how paying down your debt can HURT your credit score. There are a lot of incentives to stay in debt, and it’s good to see people getting out of it.

]]> By: sean http://www.mightybargainhunter.com/2006/03/06/a-saving-tsunami/comment-page-1/#comment-871 sean Mon, 06 Mar 2006 17:58:12 +0000 http://mightybargainhunter.com/2006/03/06/a-saving-tsunami/#comment-871 I'm with you here, at least, I think I am, if I'm reading you right... ;) Yes, the economy, as a whole anyway, does need debt to function efficiently. But I'm afraid we've likely overextended ourselves - IMO in a massive way - as individuals as well as a nation, and just have entirely too much personal and governmental debt to be sustainable. I'm not sure what will trigger the wake up call that certainly will come, but when it does I'm afraid it will be very painful to many people. I'm happy I've somehow 'seen the light', and am really working on getting our family back into a bit more stable shape. But even when I do get that accomplished, I unfortunately trust my gov't very little not to punish those of us who have planned to make up for those who haven't. I’m with you here, at least, I think I am, if I’m reading you right… ;)

Yes, the economy, as a whole anyway, does need debt to function efficiently. But I’m afraid we’ve likely overextended ourselves – IMO in a massive way – as individuals as well as a nation, and just have entirely too much personal and governmental debt to be sustainable.

I’m not sure what will trigger the wake up call that certainly will come, but when it does I’m afraid it will be very painful to many people.

I’m happy I’ve somehow ‘seen the light’, and am really working on getting our family back into a bit more stable shape. But even when I do get that accomplished, I unfortunately trust my gov’t very little not to punish those of us who have planned to make up for those who haven’t.

]]> By: my new self http://www.mightybargainhunter.com/2006/03/06/a-saving-tsunami/comment-page-1/#comment-870 my new self Mon, 06 Mar 2006 17:42:30 +0000 http://mightybargainhunter.com/2006/03/06/a-saving-tsunami/#comment-870 I agree with Debt Hater, there might be some short-term pain for the economy, but overall it (no debt) would be a plus. Of course, some segments would suffer (credit card companies) more than others. But maybe their time, like those buggy whip makers of legend, is coming to an end. I agree with Debt Hater, there might be some short-term pain for the economy, but overall it (no debt) would be a plus. Of course, some segments would suffer (credit card companies) more than others. But maybe their time, like those buggy whip makers of legend, is coming to an end.

]]> By: Debt Hater http://www.mightybargainhunter.com/2006/03/06/a-saving-tsunami/comment-page-1/#comment-867 Debt Hater Mon, 06 Mar 2006 16:06:06 +0000 http://mightybargainhunter.com/2006/03/06/a-saving-tsunami/#comment-867 I am new to personal finance and I am just learning how debt, credit, interest rates and the whole 9 work. But I don't see why it would be so terrible if everyone was out of cc debt tomorrow. I'm sure it would be bad for a short time, but the market would correct itself. And I think it would be a whole lot better to be unemployed with NO DEBT and some savings, than unemployed with bills and loans you no longer have income to cover. I for one would be much happier to spend if I was out of debt and had some investments working for my future. I am new to personal finance and I am just learning how debt, credit, interest rates and the whole 9 work. But I don’t see why it would be so terrible if everyone was out of cc debt tomorrow. I’m sure it would be bad for a short time, but the market would correct itself. And I think it would be a whole lot better to be unemployed with NO DEBT and some savings, than unemployed with bills and loans you no longer have income to cover. I for one would be much happier to spend if I was out of debt and had some investments working for my future.

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