| OPINION
| SEPTEMBER 27, 2005
Letters
Spend wisely, budget
to protect economy
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| The Shorthorn: Mark Madalora |
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Re: “Buying Freedom,” Sept. 20
As an economics major, I had several thoughts about the article.
No matter what the item is, buying stuff does help the economy.
However, there are other ways to stimulate the economy. One could
invest in stocks, bonds or mutual funds. Depending on the financial
activity, one could get his or her investment back and make a little
additional cash. This is a great way to buy even more.
What about the future? If we spend all of our extra money now, then
we will have no money to buy things in the future. Many expect that
Social Security will not be around. Even if Social Security lasts,
it is not enough to buy what one needs and buy things like cool
DVDs.
Also, the author wrote about running up credit cards. This is not
advisable. If one has a bad credit card rating then he or she will
have a harder time buying a car or house. Is getting that new cool
iPod worth that?
One thing the author said was that he wanted to burn his stuff so
he could use the insurance money to buy more stuff. How wasteful
is this? If the author cared about the economy he would sell or
even trade his stuff. If everyone burned their stuff to collect
insurance then insurance rates would go up. Then, people would have
less money to buy that CD with all those good songs.
So, in conclusion, I would say spend wisely and have a budget for
the future.
— Travis Malone is an economics junior
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