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Correction: 7,000 JT ordered for the Government

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TennesseePA

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Commerce is good for the economy. Without commerce there is no growth, without growth we could not accommodate an expanding population. CPI has been rigged since the took energy and food out of the calculation. Finance is 20% knowledge and 80% behavior. Credit cards and auto financing are just symptoms of the, "I have to have it now!" mentality that is so predominant in our modern society. If, as a society, we would only buy what we could afford then inflation could be managed and growth would be exponential. I know this is harsh but if you owe on anything but your home you are doing it wrong. For me it is a biblical principle which also fits quite well into a financial model.

Find a radio guy named Dave Ramsey and listen to his show and take his "Financial Peace University" class and you will be on your way to true freedom.
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bangolia

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Commerce is good for the economy. Without commerce there is no growth, without growth we could not accommodate an expanding population. CPI has been rigged since the took energy and food out of the calculation. Finance is 20% knowledge and 80% behavior. Credit cards and auto financing are just symptoms of the, "I have to have it now!" mentality that is so predominant in our modern society. If, as a society, we would only buy what we could afford then inflation could be managed and growth would be exponential. I know this is harsh but if you owe on anything but your home you are doing it wrong. For me it is a biblical principle which also fits quite well into a financial model.

Find a radio guy named Dave Ramsey and listen to his show and take his "Financial Peace University" class and you will be on your way to tru freedom.
Dave Ramsey is good but do you have any information on "There was a government order for JL's at launch that did not slow down production"?
 

TennesseePA

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I was responding to conversation that has evolved. Do you have any relevant input on anything intelligent?
 
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Vegas_Sirk

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Wow this thread changed course and got political fast. Here is my 2 cents. I do agree with @Vegas_Sirk that government policy encourages spending and discourages savings. I also agree that the CPI is not an accurate reflection of inflation. However, nobody was blameless in the recession. Easy to blame the government, banks, or the auto industry. They did all have a part in enabling or enhancing the recession, however the root cause was consumers. Everyday Joe's who bought homes they couldn't afford with little or no down payment. Now its true mortgage brokers should never have allowed that to happen, but ultimately if you are signing for a loan you should understand the terms. Consumers think that having a down payment and requiring income verification is the bank creating hoops to jump through, but actually its helping protect the customer as much as the bank. If you are falsifying your income and robbing your 401(k) for a down payment, maybe just maybe, you are looking at a purchase you can't afford.

Summary: The general public is not blameless either.



This may be true about paycheck to paycheck living, however my experience coaching friends in similar situations is. They all have nice TVs, newer cars than my daily driver, pay for expensive cable packages, buy $6 pack of smokes daily, etc. Then are amazed they can't pay CC bills and don't seem to mind the interest rate is 18.99% While empathy is important, my experience tells me in a good number of cases where Americans are living paycheck to paycheck it is do to misaligned priorities. Not all cases of course, but a good portion.

Ok, I'm off my soapbox lets get back to talking about Jeeps.
Sorry I didn't mean to get political and I'm not just saying this about the U.S. but all modern governments. I also agree with you that its the publics fault as well as 1) we are allowing it to happen and 2) we are voting in favor of it with our spending habits.

When I was in my 20s I made really good money for my age, but was a dumb ass and spent it all on cars, even got a few in magazines and would change them like underwear. Now I just hit 40 and my JKU is the longest vehicle I have owned (6 years, 80K miles) and my outlook it more like you. I think the problem with the public is personal finance isn't taught in grade school and high school. It should be required from 3rd grade up just as much as math and literature is.
 

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Vegas_Sirk

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Commerce is good for the economy. Without commerce there is no growth, without growth we could not accommodate an expanding population. CPI has been rigged since the took energy and food out of the calculation. Finance is 20% knowledge and 80% behavior. Credit cards and auto financing are just symptoms of the, "I have to have it now!" mentality that is so predominant in our modern society. If, as a society, we would only buy what we could afford then inflation could be managed and growth would be exponential. I know this is harsh but if you owe on anything but your home you are doing it wrong. For me it is a biblical principle which also fits quite well into a financial model.

Find a radio guy named Dave Ramsey and listen to his show and take his "Financial Peace University" class and you will be on your way to tru freedom.
Agreed. However commerce is better if its through investment. not just consuming.
 

drogers

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Spoken like a wealthy person.

Here's a newsflash: The average American doesn't have the ability to stash tens of thousands of dollars into a savings account when it takes every paycheck they earn to keep the lights on and food in the fridge and the cost of every good and service keeps rising rapidly annually.
You're making this statement on a forum full of people who think it makes sense to pay $600+/mo in car payments to upgrade or supplement their current $500/mo vehicle payment just becaue they want to. If people didn't have car payments, they could stash away a *ton* of money - the average car payment now is $550/mo!

Get rid of your car payment, and your emergency fund scenario immediately shifts by over $12k (550 more in savings, 550/mo less needed for car payment in emergencies)...

The average American has been led in to a consumerist lifestyle that is unsupportable. You talk about keeping food in the fridge and the lights on, but if that were all Joe Average were doing, he'd have a nice comforatbe emergency fund and retirement account to fall back on. Instead he buys a new (brand new!) car every 3 years, owns a home twice the size of the one he grew up in, and pays hundreds of $$ on cable TV and gigabit internet.
 

TennesseePA

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Agreed. However commerce is better if its through investment. not just consuming.
Absolutely! There has to be a balance of both for the economy to sustain growth. Without consumers a product isn't worth the cost of the box it came in. If you consume less than you earn and save and invest the balance you are down a long term path to success.

Matthew 25, 14-30

It is about stewardship. Do the right thing with your blessings and you will get more. Make bad decisions and you will be stuck where you are forever
 
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