Off-Topic: Gotta love the irony

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	Name:	cobra -
	Subject:	Gotta love the irony
	Date:	3/15/2009 9:26:31 PM

Regardless what the Messiah says most everyone I know is hoarding cash. I sure the heck am. And until that stops the death spiral continues. But as long as people fear losing their jobs, they won't spend or borrow even if they can afford it today. This causes more job losses and more destruction of wealth.

Eventually something will pull us out of it, but I don't know what that would be. Somehow I think people would have to be confident that their 401Ks aren't going to zero and their jobs aren't about to be eliminated. How to instill that confidence based on what we have today seems like a dream. Guarantee me that I'll have a decent job for all of the next five years and I'm going on a spending spree.

This is why serious deflation is so devastating to economies. As bad as inflation is, persistent deflation is worse in the modern economy. It will have to run its course.

Other messages in this thread:

View Entire Thread

Gotta love the irony - MartiniMan - 3/15/2009 1:35:23 PM

and .... - water_watcher - 3/15/2009 3:44:19 PM

and .... - Talullahhound - 3/15/2009 5:41:22 PM

Gotta love the irony - architect - 3/15/2009 4:51:52 PM

Gotta love the irony - architect - 3/15/2009 5:15:49 PM

Realclearpolitics......... - rude evin - 3/15/2009 9:11:33 PM

Gotta love the irony - MartiniMan - 3/15/2009 9:56:36 PM

Gotta love the irony - cobra - 3/15/2009 9:26:31 PM

Gotta love the irony - water_watcher - 3/16/2009 6:31:00 AM

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