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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 78.03+0.8%Nov 14 3:59 PM EST
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To: RetiredNow who wrote (54991)9/6/2001 3:23:31 PM
From: Stock Farmer  Read Replies (2) of 77399
 
Mindmeld, you seem to know just enough to be very dangerous <g>

Firstly, yes if all consumption slowed we would have a problem. Like maybe our favorite stocks would go down and we would have to find more esoteric things to post about than just cheerleading. If indeed we were able to keep posting.

But this does not mean that savings in and of themselves are bad. Because it is savings that can be liquified in times of difficulty that prevent difficulty from tipping over into calamity and from there to crisis.

Analogy: It is bad to try a high-wire trick carying yards and yards of netting. But it's wise to have a bit of netting far far below in case of a fall. The degree of wisdom changes slowly with the height of the wire, but discontinuously depending on whether you are or are not falling.

Ask joe six pack who has no job and no savings and credit card bills to do some extra spending for the good of the economy. His response is probably to "Furk the Economy". Or words to that effect.

Second, you have equated aggregate demand with the economy. A bit of a stretch to go that far, that fast.

And finally your analysis of the cause and effect of Japan's problems trivializes an extremely complex issue, which is as much if not more wrapped up in cultural gauze and resource constraints as it is with trite western economic theory.

At least, IMHO.

John.
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