Are you looking forward to getting your rebate check from the government? Have you decided how you are going to spend it? That’s what the government wants you and your fellow consumers to do with that money. They think it will help revive the economy.
Let me be the voice of reason here.
We are seeing record-high home foreclosures, credit card delinquencies, and auto loan delinquencies. Over the long run, having people pay down their debt or build their savings will benefit the overall economy more than having them rush out to spend. Federal officials are reckless to encourage such behavior. And you don’t have to listen to them.
Use your economic stimulus rebate check to pay down credit. If you don’t have any outstanding debt, good for you. Put the money into savings or invest it.[Ed. Note: Rick Pendergraft is a professional trader and market analyst. In Rick’s new investment service, he reveals how you can make hundreds – even thousands – of dollars just by playing a simple game of “guess the pattern.”]