That's right, a statistic has caught my eye and I can't turn away. It's standing over there in the corner batting its eyelashes at me. I can't wait to meet it.
It's a very nice statistic--U.S. household debt fell 2% in the fourth quarter of 2008. That's the first decrease on record according to those hotties over at the Fed. Cnn.com postulates that this happened because a lot of debt is encapsulated in mortgages--which are harder to get now--and because consumer spending and credit card use is down.
There's just one caveat: less spending also means that less money is flowing into the economy, which can lead to lower profits, store closures and increased unemployment.
But overall, budgeting and staying away from credit card debt will make us stronger in the long run--rampant spending was part of the problem that got us into this economic mess in the first place.
As an added bonus, with decreasing debt has come increasing savings: household deposits in the fourth quarter of 2008 were up $212.1 billion.
Less spending, avoiding more credit card debt and increased savings all look sexy to me.
--Jens
Photo taken from this photostream and used with permission of a Creative Commons license.
I don't get the picture choice. Explain it to me.
She has flirty eyes. And the debt statistic was flirting with me by batting its eyes in the corner. That's the connection. It just seemed like a more intriguing visual than a boring stock photo about debt, like this one: http://69.90.174.248/photos/display_pic_with_logo/5200/5200,1224170317,2....
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