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We receive thousands of e-mails and comments on the Your Money message board each week and read them all, though we can't respond personally to each one. Below is a sampling of some of the recent MSN Money articles that received insightful comments and feedback.
- This is one of the better commentaries I've seen in mainstream media regarding our current situation. I have been telling people that we entered a depression the day the Fed lowered the prime lending rate to 0%. At that point the Keynesian economic model we've adopted collapsed unless it generated an immediate turnaround in the economy, which it didn't. At this point I only see two ways out of the current mess; a huge reduction in government spending and the size of government -- that won't happen -- or hyperinflation, which will occur like it or not. Yes, the depression is here; the only questions are how bad it will be and how long it will last.
- This article is frightening in its clear-cut analysis of where we probably are and where we are most likely headed in the US. Sadly, I do not for a minute believe that our elected officials see the scope of what we are all facing because the Washington culture insulates them from the "real" world. No amount of 2010 stimulus is going to help me today when my gas, food and heating costs are rising and the unemployment probably will continue to climb. The average person has stopped worrying about the banking industry and Wall Street. I am more concerned with the fact that I am employed now but for how long? What happens if I lose my job? Spending on anything is out of the question except some small household repairs that will have to be done so that my house can be rented to cover the mortgage if I lose my job and have to move in with family. Thank you for the painfully honest article, and my fingers are also crossed that the Davos group is wrong.
- While politicians play their games, they are squandering our last best hope to save the greatest nation on earth. We need REAL stimulus, and markets that are less encumbered by baloney and government intervention. The fact is, that a REAL bank (or business person) never would have taken these associated risks without Freddie and Fannie and every special-interest lawyer pushing for credit for the credit-less. Greed and human folly from executives and the masses have brought us to a turning point in the greatest social experiment known to mankind. God help us.
- First the tech stock bubble, then the housing bubble, and now the financial-stimulus bubble. What happens after that? What happens when this stimulus plan works, but only as long as the government keeps "loaning" money? There isn't any reason to expand a business right now because no one is buying anything. It seems as though our politicians and top executives think that spending will go back to what it was. It can't. Homes have lost value and it will take years to just get back to where we were in 2006. Job loss means income loss -- that lost money can't be made up, it is gone; and more than likely any job that someone gets will pay less than the one they had. And, as Jon alluded to in his article, people are not going to just pick up where they left off with their spending habits. People feel poor, they have lost trillions collectively and it may take years for people to feel wealthy again.
- We might see a socialist solution happening to America. After decades of capitalist abuse to our economy, we could be setting the stage for radical solutions. The main fear would be massive salary cuts to the professional classes as our country reshapes its values. During the last depression, the top tax rate on the high Income taxpayers was raised to 90%. This closed the income inequality gap. So a writer making $300,000 . . . now takes home nearly $200,000 but after a socialist-type plan you could see the janitor taking home $20,000 and the bigshot writer taking home $60,000. Let's hope this doesn't happen. You'll have to save more and sacrifice and work harder and make less.
- You media guys -- all you do is preach doom and gloom. It's media outlets like you that have gotten us in this situation to begin with (to a point). You throw around words like depression and the average person goes into a shell. No wonder no one is spending. Take two minutes to do your research and look around, because I tell you, you can't get into a mall or Home Depot or Wal-Mart on the weekend in southeast Louisiana. So the sky is not falling, the sun will rise, and the Earth continues to rotate around the sun.
- This article missed one obvious part of the equation: For people who are obese and suffering medically (in the form of hypertension, diabetes, high cholesterol, or other diseases related to their obesity), losing 30 pounds or 10% of their body weight can reduce their health care costs (including co-pays for prescriptions and doctor visits). My own experience with weight loss has shown this to be true.
- I have tried all of these diets, and though I lost weight I gained it back. Four years ago I did a lifestyle change and have lost 140 pounds without paying anyone anything. I do go on the Internet weekly and get input and ideas and the only "gym membership" I have is the sidewalk. I walk. When I started I could barely make it around my block and now do 5 to 7 miles daily in 2-mile increments. I make sure I am aware of what and how much I eat. If you are adamant about spending this much money just keep it in the savings account, because after you lose all that weight you will need a new wardrobe.
- What about the money people save when they lose 30 pounds? You can't put a price on your health. I wish this article had mentioned how much money people can save over a lifetime in reduced health care costs, if they maintain a healthy weight. We don't need articles discouraging weight loss. The cost of health care is becoming a major cost issue around the world due to diabetes and obesity, both the result of poor eating choices.
- I am eating healthier, eating less, and walking five to seven days per week. What does it cost? A pair of shoes and some time planning and executing a mealtime agenda. I walk for a half hour during lunch time. I have lost 15 lbs. in 3 months.
- It will be very cheap to lose 30 pounds if you stop eating as much and cut out junk food. I know this is a flip answer, but this is the cheapest way to go. Stop eating take-out food, cook at home, etc. I think when this money crunch starts there will be more and more people eating at home and then maybe the weight gain will stop. But many times when things are hard with money, people gain weight from eating cheap food. Thank you for the article
- While reading this article it became apparent that the problem is not with online banking, but computer owners. They don't keep their virus software updated, they release personal information about themselves -- heck, they are just plain stupid! I am offended by the title of the article, which shows the writer is going for sensationalism instead of reporting the facts accurately.
- Online banking is convenient. Phishing scams are no different than people reading your mail or going through your trash. Safer is not the issue as is it is more of a personal responsibility to track your own financial safety, i.e. keeping track of your account activities, credit reports, etc. It's no different than looking before crossing the street.
- My observation of both of the affected people in this article is that their issues were not caused by online banking per se. First, the guy who had his info hacked didn't do enough to protect his computer from viruses, etc. It's not the fault of "online banking" that he didn't use due diligence to protect his computer. Second, the woman made a critical and fundamental mistake by not completely verifying the validity of the e-mail she was sent.
- Both of these situations were totally avoidable and really have nothing to do with the security of online banking.
- Online anything is unsafe. Obviously I have lost faith and trust, but they get past anything. These mutant Internet predators have ruined a true miracle. Don't bank online.
Editor's note: Letters may have been edited for grammar or spelling. Due to space considerations, some letters have been condensed and are not presented in their entirety. The views and opinions expressed in the letters are those of the authors and not necessarily those of MSN Money.
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