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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Jacob Snyder who wrote (115582)8/3/2001 6:17:16 PM
From: pater tenebrarum  Read Replies (1) of 436258
 
well, there's something to be said for both approaches - but in the end, our entire civilization has its roots in our propensity to SAVE & invest - to forego consumption today, in order to be able to produce and consume more and /or better goods in the future.
and looking at the current situation, i think the opposite has happened...too much has been consumed, not enough has been saved, and what has been invested has been invested on credit and with unrealistic assumptions regarding future demand (a direct result of the failed monetary policy during the boom). the victim will be our future production and consumption. to begin the cycle anew and on a sound footing, the spending orgy must end and the imbalances must be addressed.
since the authorities all over the world still use the same cook-book although we're already in a different restaurant, we'll have to wait for the market to force the issue - and it will.
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