What is your opinion on the economy? Will you be cutting back on your spending or no? why?

Answer 1

The economy is in a mess. House prices, which have driven the economy, are grossly over-valued. Individuals are over borrowed, the government is over borrowed, and having to raise taxes to cover their profligate spending. The same situation appertains in the USA, only more so. I wont be cutting back, because I am already pared to the bone.

Answer 2

Other than the housing slump, I think the economy is in good health. Unemployment is low and inflation is in check. Interest rates are low enough to support and encourage spending. My confidence in the economy and any employment prospects are good, so I plan to spend, spend, spend. Right now I'm saving for a pony and a motorcycle with a side car (GoldWing). I save each month for retirement and a few near off purchases, everything else I earn goes toward major living expenses and a few select luxuries.

Answer 3

Nah, subprime mortgage or working class loans will hurt the economy somewhat, but I dont see a recession as a result of it.
S&L fiscasco of the 1980s repeat here, and guess what? Talk sense to the politicans and not let the taxpayer bail out lenders using these predatory lending products. Well the borrower nor lender should be helped out let the market fix this mistake here, and the it will correct itself. We need to cut back on goverment spending, but society cant cut back on its spending, and you think the goverment will?

Answer 4

I'm cutting back on the non-essentials. The high cost of housing is really affecting young people.

Answer 5

I'm not cutting back on spending - because I can afford to! I have no loans etc so why not!

Answer 6

I seem to be paying out a lot more on just about everything.I will be paying has much as possible off the morgage with luck might get it paid off this year.I can dream