The recession is NOT the problem. It is the solution.
We need to stop spending, start saving, pay off our debts, and become far, far more productive. As individuals, as well as a nation.
Neither the reccesion nor Obama is the messiah.
We do need to be better off as a society and holding those accountable for this disaster is what will make us better.
That's what most people say after reading leftist rants from the Village Voice. Reality is that Americans are already saving --too much. Last Friday's BEA report on the GDP has spending dropping by twice the drop in incomes and this has become a major part of the problem.
However the biggest part was foreign trade: exports are down 20% (imports are down too but that drop raises the gdp). Of course, we won't see that in the Village Voice because they're a bunch of lefty protectionists whimpering about "deported jobs with NAFTA".
OK...sure...and how do you do that when the government in collusion with the street has destroyed the economy...look around you, massive job losses underway...pretty hard to deleverage when you are unemployed.
The recession is NOT the problem. It is the solution.
“The recession is NOT the problem. It is the solution.”
We have to grin and bear it, we are a tough nation.
NO TO THE BAILOUT.
and become far, far more productive. As individuals, as well as a nation.
You mean like the financial wizards that got us into this mess. The article was pretty enlightening, but it didn’t go deep enough. The average man needs to be able to understand the level of greed and corruption that is rampant in a society where so much wealth is available for those with the desire and intelligence to go get it.
The reference was made by the author regarding understanding the math. A reference that didn’t give sufficient evidence concerning the whole scheme of credit derivatives, bundled mortgages, securites markets, congress, the fed, treasury, SEC, banks world financial markets and banks, etc etc, and the other “mutant financial instruments” the author writes about.
I regard this whole sad story as the final chapter in the fairy tale of the “Goose That Laid the Golden Egg”, only it isn’t a fairy tale, it is life and the greedy, who can blame them, Bastards, have accomplished the task. A painful reminder is the comment by the officer on the bridge of the Submarine Konofalov to the Captain, “You arrogant Ass, You’ve killed us”. From the film “Red October”.