Will the rich at the top getting rich on your mistakes blame U all for saving too little & borrowing too much?

Question

I think the media fix explaining the next recession is in the making & it will be blamed on the struggling middle classes. What do you know? What do you think?

Answer 1

I see many people making financial decisions on way too little correct information. It seems that really good solid information is hard to come by in this day and age of instant communication and the Internet. There is so much "fluff" being sold by magazines, newspapers, websites, and advertisers. The really helpful information is in the fine print. You know, those tiny microscopic little sentences that basically say, "Buyer beware! Do your homework!"

However, that fact does not excuse anyone from outright lying about a good or service that they are selling. There used to be a "Truth in Lending" law somewhere on the books in America.

The recession is coming, and the working-class and the middle class will be blamed. They always are, unless the poor are blamed first...

Answer 2

We are not, in any way, part of "the rich at the top". We live strictly "according to our income". I disagree with your idea. As far as we have been able to observe in our friends and relatives, the main problems today are: envy and "copy-cats", the ones that think: *If my sister or my friend or my neighbor bought a Volvo, I HAVE to buy a Lexus because I cannot let anyone be OVER me", and, silly people end up having debts they cannot pay.

My husband and I cannot care less about what
"anyone else" have, we buy what WE CAN. So...we have only the debts we can pay......!!!

Answer 3

I have saved a goodly amount of money and have never borrowed any money. A rich man gave me my first job. I'm sure most of you in here are working because a rich person. Those who have a job.

Answer 4

Probably. They're not the kind of people to take responsibility for their own actions and greed.

Answer 5

you bet ye they will.