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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: mishedlo who wrote (65499)7/7/2006 6:18:28 PM
From: shades  Read Replies (1) of 110194
 
The savings rate will rise.

Mish did you take social studies courses in college? When I tell you my parents could be given 10 billion and will be miserly and my sisters could be bankrupted 5 times living on a park bench and will never learn to save do you think this is sillyness? I believe people can be socialized to certain habits that follow them a lifetime and breaking those habits can be VERY HARD. Yet you make it sound like princess shopping machine can wake up tomorrow and say NOPE - no more shopping fun for me - I am gonna put down the starbucks and double my hours at work. I don't agree Mish. What was it ken lay just said before he died - its HARD to spin down the spending and lavish lifestyle.

Economists go tell formerly dirt poor people to SPEND, and go tell overindebted PRINCESS to save - but social systems like that don't turn on and off at the flick of a switch eh?

I have seen professional business managers and consultants come to south ga and try to make changes that would require adjusting basic social norms - it was very slow going and non productive from what I saw - like teaching a pig to fly - it doesn't accomplish anything and just annoys the pig.
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