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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: fishweed who wrote (110483)	4/9/2010 9:22:28 PM
From: Unalakleet	8 Recommendations Read Replies (4) \| Respond to of 116555

Was the mailman suckered for a second time? We were told that the mailman bailed out the financiers in an effort to save the entire economy, including the mailman's job. Right? And herein lies the debate. What if working people had simply let the financiers fall on their collective faces? To me, it would have been wonderful to see. But I don't need a job. And two presidents were both scared shitless to allow such an experiment to unfold. 100 million unemployed people would have been an interesting scenario. And in that scenario, a good gun and some canned goods in the basement would not be out of the question. (Now settle down, Rogue) My point is, the whole country partied. In my business (on the construction site), I saw young men who barely graduated high school driving around in extended cab trucks that cost $40,000 when all they needed was a little Toyota pickup for their tools. I saw real estate agents, mortgage brokers, assessors, inspectors, framers, plumbers, electricians, all living way beyond their means as the house they just built and sold was being peddled on the London Exchange. They benefited nicely from it all, but many were too stupid to hang on to their profits. It's awful convenient to blame the Wall Streeters (and we should), but I won't be bullshitted. I saw an entire country wrapped up in gross consumerism run amock. And now it's time to pay the piper.