Finally governments have decided there has been enough stimulus spending supposedly to get our economies kick started and some monies flowing in the economy after the banking fiasco in the U.S.
Well for many of us that stimulus money did not translate to real jobs.
Manufacturing jobs providing tangible products have disappeared, probably forever. So the middle class have had their standard of living reduced, like it or not.
While on the other hand, government salaries such as teachers, police, civil servants and other government employees have continued to get their raises.
Governments rely on deficit spending to pay the bills, or increased taxes to pay the bills to an ever growing government sponsored work force.
One wonders when this will end. When there is little value added, how can our standard of living improve?
It will be amazing to see what happens to our economy down the road and right now the stock market is casting some doubts on the future growth and profitability of a lot of companies.
The best thing I know is to pay down debts and stop paying banks and lenders so much interest. The Interest on Mortgages in Canada brings the lenders in more then $80 Billion dollars a year. No wonder banks are so profitable. They have so much money they continue to purchase assets around the world.
Let’s ensure we become better money managers.
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