Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: energyplay who wrote (51141)	6/20/2004 9:15:47 PM
From: Seeker of Truth	Read Replies (2) of 74559

"This is new, many people who grew up in the depression feel a need to have a large economic cushion against disaster." How right you are! That is I, certainly, madly devoted to thickening the money cushion. Believe it or not, in the 1920's there was a style of buying "on time". When the depression hit, many washing machines were reclaimed by the sellers. We people who experienced that or who saw it when we were kids, are mostly obsessed with saving. We look on the next two generations with amazement and horror because saving has again seemed less wise than getting in debt. The tremendous swing from buying on time to saving like mad back to maxing out the credit cards sets the stage for the climax christened by Jay as TEOTWAKI(The End OF The World As We Know It). There should be higher taxes on consumption, lower taxes on income, a la Europe's VAT. It won't happen soon. Consumer goods manufacturers and sellers would make less money today and who cares about tomorrow.

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