It really hasn’t been all that long ago when I was reading in the McAlvany Intelligence Report how our greed and consumerism was wrecking the economy. We weren’t saving enough, we were spending too much, we were carrying too much debt. Nobody listened, though. We just kept spending and therefore, we were all guilty. It would be all our fault if the economy collapsed.

Well….it has collapsed and it’s all because of our free-spending ways. Okay, we got the message, and we’ve stopped spending. We’re starting to save. Skip the dinners out…cancel the vacations, rent a movie instead of going TO the movies. Shop for groceries at Walmart, Food Maxx, and Save Mart….or even the ninety nine cent Grocery Mart.

But now, we’re being told, it’s our LACK of spending that caused the collapse of the economy. Since consumer spending makes up two thirds of this country’ economic engine, we shut off the engine. It’s all our fault! The only way to get the economy back on track is (here it comes) start spending again. Go back to our free-spending ways, break out the plastic and go for it.

The Wall Street Journal puts it this way: “In previous downturns, consumers mostly kept spending thanks in large part to easily available credit from banks and credit card companies. The Federal Reserve and Treasury Department are working together on massive programs to get the credit markets, corporate and consumer LENDING back on track.”

The terminology is UNCLOG the credit markets. Sounds to me like we’re being told that it’s our patriotic duty to go back to our free-spending ways in order to save the country. Yet, it was just a couple of years ago when we were told greedy consumerism was wrecking it. I’M SO CONFUSED!!





One Response

  1. Bruce, First, thank you for all your research and common sense over the years!

    As I see it, this is the story of our financial problems:
    1) Clinton, Frank et al wanted everyone to have a house, whether they could affor it or not.

    2) The previous persons forced the banks and lenders to make loans to person who didn’t have a down-payment and the banks were not (apparently), to confirm claims of employment. Many stories were circulating to that effect.

    3) Enter the run-up on the price of oil. (Souros?) People who were just getting by financially, were now squeezed and a bad situation exploded.

    4) Hence, the default on mortgages and the draining of the stock market (Souros again? Does he pay taxes on capital gains?) Retirement funds were wiped out and the tight financial position also squeezed out the ponzi schemes, as the persons who invested in them needed their money because the stock market went down.

    Enter O and his hords of “volunteers” (the reason for the stimulus item of “funds to study the PAY for VOLUNTEERS”) – who were sitting in on committees without authorization, until someone had them “identified” and still let them sit in on confidential committees ! ! !

    It that constitutional?

    What is the procees to charge someone in government for not adheering to the constitution – for laws and appointments? It seems that either no one knows, or no one wants to take on these people.

    Just some thoughts.

    For you and John H.:
    Have you noticed that there are apparently interferences in broadcasts; on TV and radio? At first they were just beeps, as if they were testing equipment. But now words are being bleeped out. There was a report on Fox News about O and the “telling” word of the report was bleeped out – which was the key to the whole story. Sorry, but I’ve forgotten the which story, etc. ( I’m also up there in age!)

    However, I lived overseas from 1961 to 1985 and visited the Communist eastern European countries and listened to Voice of America. One program ended and the announcer said, “And now we will hear about the events of human rights in Czechoslovakia.” Immediately, the station went off the air and there wasn’t interference; there was NOTHING ! Prior to that experience, I had only experienced the bleeping out of radio stations. Therefore, whenever the station is off the air, I get paniky !!!

    Is there any way to trace interference transmissions?

    People think I am paranoid when I say anything, but these are Americans who haven’t lived overseas and have no conception of what could happen here.

    I’ve also left a note to the “Daily Buzz” on the pirates. Nigeria had so many complaints about their’s in the early 1980’s that they took care of the problem. Found out where the pirates lived and bombed them to dust. Problem solved.

    Keep up the good work.

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