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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (470585)	4/11/2009 10:31:41 AM
From: bentway	1 Recommendation Respond to of 1577931

"We are going back to a time of much less credit, much less growth, much more conservative, asset based finance both personally and in business." That's going to cause some MAJOR pain and whining from Americans that aren't used to delaying gratification. I don't think American consumer-based businesses (pretty much ALL of them) will like it much either.

To: Road Walker who wrote (470585)	4/11/2009 10:47:12 AM
From: i-node	Read Replies (2) \| Respond to of 1577931

I think what he's saying, and I think he's probably right, it that everything has changed. We are going back to a time of much less credit, much less growth, much more conservative, asset based finance both personally and in business. Are you saying economic growth isn't coming back to the levels of the eight years of the Bush administration?

To: Road Walker who wrote (470585)	4/11/2009 4:55:33 PM
From: tejek	Read Replies (1) \| Respond to of 1577931

I appreciate what Krugman is saying and I do want the changes he supports but lately, I also see that Krugman has some strong biases. They color his opinions more than I like. I think what he's saying, and I think he's probably right, it that everything has changed. We are going back to a time of much less credit, much less growth, much more conservative, asset based finance both personally and in business. That the last 20 or so years have been the outlier, not the new paradigm. I am not convinced that that is true. Instead of spending, Americans are saving.......in the last three months, the savings rate has gone from 1% to 5%. That higher rate is motivated by fear. Do you think it will continue after the fear is gone? I don't think so. We may not go back to the old ways but I don't think Americans have given up competely on the notion of self gratification.