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View Full Version : Stop Saving Now! Newsweek's Communist propaganda




Dripping Rain
03-17-2009, 11:38 AM
People have lost the taste of risk. Start risk taking and spend yourselves to oblivion
http://www.newsweek.com/id/189232

acptulsa
03-17-2009, 11:45 AM
Gross is really funny when he tries to use Keynes quotes in this economy. "The paradox of thrift" gets a nice cursory explanation. He doesn't dare do it justice--if he gave it more than a cursory mention someone might figure out where a bunch of the systemic problem lies.

As for the following, well--whose point is he arguing in bringing up Lost Wages?

'In January, Nevada's casinos reported, gamblers lost 14.6 percent less money than they did in January 2008. "The precautionary behavior of every entity in the global economy has gone up," Mohamed El-Arian, CEO of the giant bond-investment fund PIMCO, told NEWSWEEK. "We've gone from an age of entitlement to an age of thrift."'

From an age of entitlement to an age of thrift. When are we going to return to a productive era?

Xenophage
03-17-2009, 11:56 AM
You think the writer of the article will be the first one to stop saving and start spending? I highly doubt it, but I hope he's dumb enough to believe his own bullshit.

Anybody that spends themselves into the poorhouse deserves it. The problem is, when this guy is flat broke he'll call it somebody else's problem and come calling for a bailout.

We have had a severe problem with economists for a long damn time. Nobody even understands the fundamentals! Economic progress is a symptom of productive achievement, and that's the essential principle that everybody fucking misses. It seems so simple to me and everyone else here... its like, 1st grade math for christ's sake. Why is it so rare to find this wisdom?

Mesogen
03-17-2009, 12:08 PM
"We've gone from an age of entitlement to an age of thrift."

AGE??

It's been like 6 months.

acptulsa
03-17-2009, 12:12 PM
AGE??

It's been like 6 months.

Which is still 1,768,000 times as long as the average Obamabot's attention span.