Re: Oil Company Profits

Posted by Dug on August 20, 2005 at 20:20:32 from (4.255.7.11):

In Reply to: Re: Oil Company Profits posted by Mike3501 on August 20, 2005 at 13:02:18:

Mike,

The savings rate is 0 and the debt load has risen because of increased standards of living. Look at the average house compared to 30 years ago. Look at the average vehicle compared to 30 years ago. Electronics, telecommunications, the list goes on. Folks have to have the latest and best whether they can "afford" it or not, thus increased debt and decreased savings. We have only ourselves to blame. The big bad banks didn't force us to assume debt to live up to our standards, we made the choice ourselves.

Dug

Follow Ups:

• Re: Oil Company Profits Jeff Oliver 07:00:35 08/21/05 (0)

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