Having a high savings rate is the right thing to do because it creates financial security.

Don’t ever run up a credit card bill. Use the cards but pay the balance due in full each month.

Live within your means and you will prosper in any economic condition.

People will need patience to get through this recession. The consumer needs to save, reduce debt, secure their income stream, and then start spending. This will take some time but the rewards will be great.

Patience is needed from our economically incompetent president, advisors, and congress who think we need a second stimulus even though about 90% of the first one has not been spent yet. And that is of their own doing because they back loaded it. It would be ironic if President Obama intoned the famous words of Ronald Reagan- “Stay the course.” Maybe the backloaded money can be brought forward and redeployed to actually create jobs. Where is speedy Joe Biden? He’s another economic incompetent.

At this point given his handling of the economy President Obama is starting to make George W Bush look smart!

Related Posts:

• There is a huge risk of double dip recession is the government is not careful.
• The “Great Recession”, with Capital Letters.
• Trying to bail out housing is a nightmare.
• Obama spoke about 3 million plus jobs only to pass the stimulus.
• Here’s a few words from Wikipedia about recessions:

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