U.S. Must Be Cut Loose

12-28-08 | gpk9

[This_far]

Barney Frank denies any involvement or blame.

[gpk9]

It really doesn’t matter what the actual number is.

It really doesn’t matter what any of us think.

What matters is what other people around the world think of us.

They don’t care what the actual numbers are either. They’re not looking at actual numbers. They’re looking at trends. The trends they see in America, and the pace of those trends, frighten them to one degree or another.

If they decide to cut us loose, they won’t care what we think.

This essay doesn’t matter either. Nobody cares what I or any other individual here thinks. What we think doesn’t matter.

That’s the whole point. Our opinions don’t matter. Every opinion expressed on this site doesn’t matter.

Reality is what matters.

If I have inaccurately described reality, it doesn’t matter because reality doesn’t care what I or anyone else thinks. If I have accurately described reality, it doesn’t matter because reality doesn’t care what I or anyone else thinks.

[america-rules]

Take gas prices out of the picture and consumer spending went up in Nov and Dec 2008 !

All these doom and gloom false articles are pissing me off.

Americans don't save and never will so whatever they can spend they will. Consumer credit is flowing freely and is not being cut off to credit worthy people.

The people who shouldn't have any credit are being cut off but not 95% of the consumers.

Local Banks and credit unions are lending like they were a year ago so they aren't under duress because they didn't do sub-prime lending !

The sky isn't falling and for 90% of us it's business as usual !

[familyop]

"The word “hyperinflation” is tossed about casually by some people."

I agree on that part of your comment. We'll probably see much more deflation. But with much manufacturing and consumer demand continuing in certain other countries, it appears that the dollar will depreciate internationally (rising prices on foreign goods). ...domestic deflation with international inflation, eventually.

[mefistofelerevised]

Are you still breathing? Have a beer and chill. Hasn’t anybody ever told you that money and life are not the same thing?

[NucSubs]

???

[RU88]

Although overstated, there's no denying the amount of consumer debt people are carrying and how this will add to the difficulty of coming out of this recession. Compound this with serious job losses and you've got the recipe for a really toxic brew.

[grey_whiskers]

"We get our news from reliable White Horse Souses..."

Cheers!

[DaBearOne]

Folks quit buying. Why, it's really simple. Wen the credit cards companies extort 29% intrest and more. What good is their product. Would you feed a horse a fourth less of food, then expect the horse to travel further, or pull more of the load?

And the politicians (demoncrats) taxing, taxing, taxing while they play, dine, and wine themselfes. Then like the idiots they are they tell the rich they will tax them even more.

Does the above make you want to disagree. You can you know, after all the companies holding the balance on you credit cards are holding worthless paper. It's legal to think about it. Then tell them once and for all how foolish they have been. (And yes we are foolish too for allowing this to happen.)

[BillM]

This is nonsense. Productivity is is a measure of the number of hours required to produce the necessities of life. Anything that reduces that number is a plus for society. One man with a bulldozer can do the work of hundreds of lumberjacks with axes. That frees them up do other things. You need a lot of axes or just the one bulldozer. In many ways, if the problem is clearing the forest, it really doesn't matter where you bought the bulldozer.

Our service economy is much less vulnerable to economic collapse than the junk economy of China. We have been buying a lot of stuff not related to our basic needs. We can stop buying this stuff and be no worse off. The Chinese on the other hand will be devastated. That in itself is probably the greatest threat to America and the rest of the world.

[Mase]

It really doesn’t matter what the actual number is.

Of course it matters. The truth always matters. Your post is filled with misinformation, hyperbole and alarmism. Why did you even bother? Total consumer debt is around $2.6 trillion, not the $14 trillion you indicate in your post. Wherever do you get your numbers? If you're that far off on this one piece of data why should anyone pay any attention to anything else you've written? Again, why even bother to waste your time (and mine)? Does doom love and need company that badly?

[Toddsterpatriot]

It really doesn’t matter what the actual number is.

That's funny.

Reality is what matters.

Make up your mind. LOL!

If I have inaccurately described reality

You have, like you usually do.

[tioga]

that's some pǝʇsıʍʇ logic buıob on here..........

[Toddsterpatriot]

Logic doesn’t matter, we’re doomed!!!!!!

[Moonman62]

70% of our economy is consumer demand. When consumer demand dries up, the economy crashes.

When the government declares war on economic growth, the economy crashes. The Fed incorrectly blames inflation on economic growth, so every ten years or so it inverts the yield curve, which chokes off funding for business. An inverted yield curve is the best predictor for recession there is. Combine that with a president who is an economic moron, and we find ourselves in a mess.

If the government corrected itself with stimulus for business (especially small business), instead of for the consumer (which has already failed a few times), this financial crisis would be over shortly at minimal cost.

But I'll guarantee it doesn't happen, because demand side stimulus, and infrastructure projects are what benefits politicians the most, not America.

[gpk9]

"You have, like you usually do."

Then why bother responding to anything I post?

[Toddsterpatriot]

Because your posts are funny.

[gpk9]

Your post is filled with misinformation, hyperbole and alarmism.

I'll ask you the same question I asked someone else. Why even bother responding?

"Again, why even bother to waste your time...?"

Maybe I just enjoy writing. :) In that case it wouldn't be a waste of time on my part. It would be an enjoyable hobby.

"(and mine)"

Me wasting your time? How do you figure that?