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I watched the short speach by Hank Paulson during lunch. Of course, there
had to be some kind of "announcement" because it was a down day on the stock
markets. If I heard him correctly, in his view the entire economy depends
upon getting consumers to go FURTHER into debt (excess debt was what caused
the current crisis, unless I am very mistaken) to purchase houses and
appliances that go into houses. So, when Joe and Jane 6P become real estate
gambler again, will the economy go back into, as Paulson puts it,
"prosperity"?.
Come on now. Is this the best that they can do?
miner_tom
On Dec 1, 1:13 pm, "Teece" <t...@y...com> wrote:
> Come on now. Is this the best that they can do?
>
Yes, miner, it's called "Keynesian Economics". Spend your way to
prosperity. America, the most powerful nation ever, has a negative
savings rate. That's real prosperity.
The irony is that Asia, since it slavishly follows America, has a very
high savings rate but still cannot decouple itself from the US
recession. So they saved money and still will be unemployed. At
least by spending you can enjoy yourself before the crash. Of course
the long term solution is for the US to save more and Asia to spend
more, but that's in an ideal world.
RL
raylopez99 <r...@g...com> wrote:
>On Dec 1, 1:13=A0pm, "Teece" <t...@y...com> wrote:
>
>> Come on now. Is this the best that they can do?
>>
>
>Yes, miner, it's called "Keynesian Economics". Spend your way to
>prosperity. America, the most powerful nation ever, has a negative
>savings rate. That's real prosperity.
>
>The irony is that Asia, since it slavishly follows America, has a very
>high savings rate but still cannot decouple itself from the US
>recession. So they saved money and still will be unemployed. At
>least by spending you can enjoy yourself before the crash. Of course
>the long term solution is for the US to save more and Asia to spend
>more, but that's in an ideal world.
>
>RL
It WILL happen, it has to. It will take time though. In our instant
gratification society, that may be hard to comprehend for some folks.
And it will be like water torture for them.
Not to worry, it's the inevitable trend of history, according to Karl
Marx.
China is coming out from almost a century of depression, while
America and some of the well-governed oil rich states are on their
way
towards Communist Paradise; that's why people seem to
be behaving in a different manner or exhibit different values; they're
just
reacting quite rationally to different economic conditions. Put a
Chinaman on American soil and pretty soon, he will walk like one,
look like one and talk like one.
Anyway, why complain if someone volunteers to subsidize your
standard of living? Be grateful while it lasts, before they and the
Indians
shift their trust to the god of wealth (Tibetan Dzambhala/Hindu
Kubera).
Kubera mantra:
Om yakshaya Kuberaya Vaishravanaaya
Dhana Dhanyathi Pathayae
Dhana Dhanya Samruthime
Dehi Tapaya swaha!
====================================================
On Dec 2, 5:47 am, d...@n...com (d.) wrote:
>
> It WILL happen, it has to. It will take time though. In our instant
> gratification society, that may be hard to comprehend for some folks.
> And it will be like water torture for them.
====================================================
> > raylopez99 <r...@g...com> wrote:
>
> >Yes, miner, it's called "Keynesian Economics". Spend your way to
> >prosperity. America, the most powerful nation ever, has a negative
> >savings rate. That's real prosperity.
>
> >The irony is that Asia, since it slavishly follows America, has a very
> >high savings rate but still cannot decouple itself from the US
> >recession. So they saved money and still will be unemployed. At
> >least by spending you can enjoy yourself before the crash. Of course
> >the long term solution is for the US to save more and Asia to spend
> >more, but that's in an ideal world.
>
> >RL
====================================================
=
> >On Dec 1, 1:13=A0pm, "Teece" <t...@y...com> wrote:
>
> >> Come on now. Is this the best that they can do?
- Hide quoted text -
> - Show quoted text -
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