Gross: Spending to Maintain Consumption a Waste (“...flushing money down an economic toilet.” )

the invisible source ^ | 07/28/10 | %^&*NMhjyu

[the invisib1e hand]

excerpt: “I will go so far as to say that not only growth but capitalism itself may be in part dependent on a growing population,” Gross wrote. “Production depends upon people, not only in the actual process, but because of the final demand that justifies its existence.”

read on.

[the invisib1e hand]

I've criticized him before, but he nails it. He calls out the ghosts of Malthus and Keynes. Memo to Malthusians: just because paranoia is self-fulfilling doesn't mean you know what you're talking about.

[the invisib1e hand]

Production depends upon people

heresy.

[AliVeritas]

Did you hear about Citigroup?

75mil for the 40bil in risk they had out there?

They hid it and Crittenden and Tilsley get 100K fines?

Yet they state it was unintentional omission.

They got our dough.

Remember other banks were strongarmed into taking it so the main players would stay covered?

What happened with the Goldman case from April?
GDP and growth index/adjustments come in tomorrow.

[the invisib1e hand]

citi is an annex of the Treasury, and has been for years. Ergo...