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| Subject: One confusion thing about the 'economic slump' | |
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Author: Stephen |
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Date Posted: 11:03:17 03/21/08 Fri Stage Right (USA): Many of the articles I read about the "economic slump" (read "Slump Moves From Wall St. to Main St." in the NYT below) … http://www.nytimes.com/2008/03/21/business/21econ.html?ex=1363838400&en=dbb413b1d88aa67b&ei=5089&partner=rssyahoo&emc=rss … infer that the problem with the economy is due to the fact that people are not spending money. It is implied or inferred that if people would only spend money, everything would be better. But they do not mention the fact that the average American has gone from having $10k in the bank in 2000 to being over $10k in debt today. Or that cost of living has outpaced average salary increases, or that many people have dropped out of the labor force. These articles are written only to inspire people to spend their money and tell us that if we we spent money (that we don't have because we are in debt) that the economy would improve. Stage left (Europe): The European economy is doing very well, especially given the fact that the many former Eastern Block countries have recently joined. Personal ownership of land and property is not an issue there. Gasoline and road taxes have always been expensive there. Most persons do not own cars and use public transportation. They have mandatory public health care. They are all working at reducing their carbon footprints. They are poster children for renewable energy. They have mandatory recycling programs. People do not go out and spend their money frivolously. They don’t have disposable plastic grocery bags or Styrofoam travel cups. The point is that Europe's economy is doing very well and the people there don't go out and spend money to save the banks. [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| I think most news people are so far removed from how jo or jane american lives | Bev | 13:07:06 03/21/08 Fri |
| Corps haven't been sharing productivity gains w/employees as they have in the past | Mo' Green | 19:42:40 03/23/08 Sun |
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